INTB 3355- MIDTERM REVIEW EXAM QUESTIONS AND
ANSWERS
/. The member countries of NAFTA are:
A. Canada and the US
B. The US and Mexico
C. Mexico and Canada
D. Canada, Mexico, and the US - Answer-✅D. Canada, Mexico, and the US
/.Mexico's main concerns regarding NAFTA are related to:
A. Losing manufacturing jobs to Mexico
B. US migration policies and high corn subsides for US farmers
C. Energy trades policies - Answer-✅B. US migration policies and high corn subsides
for US farmers
/.How should the US react to the loss of manufacturing jobs?
A. Provide additional incentives for companies to reverse offshoring practices
B. Strengthen unions in the US and improve conditions for existing jobs
C. Let the market rule - Answer-✅B. Strengthen unions in the US and improve
conditions for existing jobs
/.The main motivation behind the creation of the European Union was:
A. Security concerns
B. Economic concerns
C. Political concerns
D. Social concerns - Answer-✅B. Economic concerns
/.Which of the following was NOT among the 6 founding members of the European
Union:
A. Germany
B. Italy
C. Belgium
D. United Kingdom - Answer-✅D. United Kingdom
/.A contract clause establishing where a dispute will be settled is known as:
A. Choice-of-law clause
B. Choice-of-forum clause
C. Choice-of-location clause - Answer-✅B. Choice-of-forum clause
, /.The US should outlaw the use of "grease" by US companies abroad:
A. True
B. False - Answer-✅A. True
/.Immigration has a positive impact on employers, managers, workers with
complementary skills, the federal government; and a negative impact on states with
generous social services:
A. True
B. False - Answer-✅A. True
/.Government seizure of the assets of a handful of companies with compensation is
known as:
A. Confiscation
B. Expropriation
C. Nationalization - Answer-✅B. Expropriation
/.Which member country has been most interested in renegotiating NAFTA energy trade
agreements?
A. Canada
B. Mexico
C. US - Answer-✅A. Canada
/.Which type of integration came first in the history of the European Union?
A. Political
B. Economic
C. Social
D. Cultural - Answer-✅B. Economic
/.Only in communist countries do governments own the factors of production:
A. True
B. False - Answer-✅B. False
/.Nationalization and privatization are:
A. Similar trends
B. Opposing trends
C. Both risks faced by privately owned companies
D. Both risks not encountered in capitalist democracies - Answer-✅B. Opposing trends
/.Where litigation in international disputes should occur is:
A. Usually evident from the documentation available
B. At times unclear, in which case, the UN International Court of Justice will determine
the jurisdiction
C. Often complex, so contracts should include choice-of-law and choice-of-forum
clauses
ANSWERS
/. The member countries of NAFTA are:
A. Canada and the US
B. The US and Mexico
C. Mexico and Canada
D. Canada, Mexico, and the US - Answer-✅D. Canada, Mexico, and the US
/.Mexico's main concerns regarding NAFTA are related to:
A. Losing manufacturing jobs to Mexico
B. US migration policies and high corn subsides for US farmers
C. Energy trades policies - Answer-✅B. US migration policies and high corn subsides
for US farmers
/.How should the US react to the loss of manufacturing jobs?
A. Provide additional incentives for companies to reverse offshoring practices
B. Strengthen unions in the US and improve conditions for existing jobs
C. Let the market rule - Answer-✅B. Strengthen unions in the US and improve
conditions for existing jobs
/.The main motivation behind the creation of the European Union was:
A. Security concerns
B. Economic concerns
C. Political concerns
D. Social concerns - Answer-✅B. Economic concerns
/.Which of the following was NOT among the 6 founding members of the European
Union:
A. Germany
B. Italy
C. Belgium
D. United Kingdom - Answer-✅D. United Kingdom
/.A contract clause establishing where a dispute will be settled is known as:
A. Choice-of-law clause
B. Choice-of-forum clause
C. Choice-of-location clause - Answer-✅B. Choice-of-forum clause
, /.The US should outlaw the use of "grease" by US companies abroad:
A. True
B. False - Answer-✅A. True
/.Immigration has a positive impact on employers, managers, workers with
complementary skills, the federal government; and a negative impact on states with
generous social services:
A. True
B. False - Answer-✅A. True
/.Government seizure of the assets of a handful of companies with compensation is
known as:
A. Confiscation
B. Expropriation
C. Nationalization - Answer-✅B. Expropriation
/.Which member country has been most interested in renegotiating NAFTA energy trade
agreements?
A. Canada
B. Mexico
C. US - Answer-✅A. Canada
/.Which type of integration came first in the history of the European Union?
A. Political
B. Economic
C. Social
D. Cultural - Answer-✅B. Economic
/.Only in communist countries do governments own the factors of production:
A. True
B. False - Answer-✅B. False
/.Nationalization and privatization are:
A. Similar trends
B. Opposing trends
C. Both risks faced by privately owned companies
D. Both risks not encountered in capitalist democracies - Answer-✅B. Opposing trends
/.Where litigation in international disputes should occur is:
A. Usually evident from the documentation available
B. At times unclear, in which case, the UN International Court of Justice will determine
the jurisdiction
C. Often complex, so contracts should include choice-of-law and choice-of-forum
clauses
