ANS DESCRIPTION TERM Codification a. Application of tariffs, duties and other tr

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ANS DESCRIPTION TERM Codification a. Application of tariffs, duties and other trade barriers equally to imports of other members without discrimination b. States are free and equal and have supreme authority over all Sorerertyhorty subjects and objects in their region UNIDROIT Most Favoured Nation Safeguards c. Reviewable under Canada's competition legislation d. Emergency import restrictions e. One which falls under a block exemption f. Competitors agree to underbid on projects, and take turns who will win the contract Bank of Canada Mergers& Acquisitions e.Trade regulations to protect human, animal & plant life health Constitution Act Bid Rigging Standards & Safety h. Avoiding taxation by extracting profits in the form of loan interest paid to the overseas parent company L Used to determine the national origin of goods being imported into the c . Government contributions such as grants, loans, tax credits k. Market entry barrier related to sole selling power in a territory Technology Transfer u Governs rights, obligations & division of powers between the levels Thin Capitalization m. Having laws in writing and easily accessible n. International Institute for the Unification of Private Law Exclusive Dealing Rules of Origin o. Manages the monetary policy to promote the economic & financial welfare of the country FALSE Please complete the followine 30 T&P;'s on the exam sheet (t mark foar each correct and complete answer- 10 marka 1. aors in Canada under common and civit law are treated the same. a) True(b)False X 2. The World Trade Organization (WTO) has a specific initiative associated with both the GATS and GATT that contains provisions that deal with monopolies and unfair competition. Trueb) False 3. The federal government has exclusive powers over defence, criminal law, banking and currency rueb) False 4. Income tax in Canada is the exclusive purview of the provinces and territories. a)True () False 5. National law is the legal authority any nation exerts over the private citizens and territony QTrue b) False 6. International trade law promotes economic interactions between nation states, but does not deal with actions that seek to restrict trade. False b)False b) False b) False a) True F 7. There is one single organization or set of rules to govern and police international commerce. e)True 8. National competition laws can have an impact on your ability to do business. X 9, GATT members can give preferential treatment to domestic products over imports. X10. Banks operating in Canada report directly to the Bank of Canada. True e)True True b. False

Explanation / Answer

Codification- m

Sovereignty- b

UNIDROIT- n

Most favoured nation- a

Safeguards- d

Bank of Canada- o

Mergers and acquisitions- c

Constitution act- l

Big rigging- f

Standard and safety- g

Technology transfer agreement- e

Thin capitalisation- h

Exclusive dealing- k

Rules of origin- i

Subsidiaries- j

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