27. A US citizen has to report all incomes generated from other countries. This

Question

27. A US citizen has to report all incomes generated from other countries. This is based on application of laws a. Exterritorial b. Globalization c. Equality d. Sociability 28. If a company invent a new dug to cure lung cancer, this is considered a. Design Patent b. Utility Patent c. Plant Patent 29. If a dispute lists between two trader partners from different countries and there is no legal clauses on the contract, which of the following law will apply a. WIPO b. CISG c. Madrid Agreement d. Paris treaty 30. Tradenames are protected by WIPO and Madrid agreement a. b. WIPO and TRIPS TRIPS and Paris treaty d. c. Madrid agreement and Paris Treaty 31. laws are intended to prevent inappropriately large concentration of economic power such as monopoly a. Competition b. Fair trade c. Copy right d. Equal trade 32 The law to prohilbit bribery of foreign officials and set requirements for transparencies of accounting practices is called Foreign Corruption Practices Act b. International Corruption Act c WTO anti-corruption agreement d. Anti-corruption Act a. Module 7 33, 5% of country A's GNI is from Agriculture, 85% ?? from service section, this country is likely to be a. b. c. Developing country Emerging Market country Developed country 34. Country A has a GNI per capita of 2000 in A-currency and Country B has a GNI per capita of 20000 in B-currency. The PPP exchange rate is 1 A-currency-100 B-currency. Which country has higher PPP Peu a. CountryA b. Country B c. Cannot tell 3 s. Country A has the Gini coefficient of 40 and Country B has the Gini coefficient of 50. Which country has more equal distribution in wealth a. Country A b. CountryB c. Cannot tell

Explanation / Answer

Answers:

27 a)exterritorial(exterritorial application refers to the income from foreign territories ).

28 b)utility patent( as pharmaceuticals is a part if utility patents)

29 c)CISG(as this is the most accepted international sales law for significant world trade countries).

30 a)WIPO and Madrid agreement(as tradenames are protected by international bureau of WIPO amongst the countries which have joined the Madrid protocol).

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