test 1 review part 3

Question 1

International trade includes exports, imports, and foreign direct investment.
True
False

Answer 1

False

Question 2

The old Mercantilists and today’s neo-mercantilists believe import and export are good for building the wealth of a nation

Answer 2

True

Question 3

Which of the following is NOT a benefit of arbitration?

A. It is quicker than litigation.
B. It is less expensive than litigation.
C. It is more private than litigation.
D. It is more complicated than litigation.

Answer 3

D. It is more complicated than litigation.

Question 4

Which of the following is NOT a disadvantage of litigation?

A. It can be complicated and expensive.
B. It can be time-consuming.
C. The discovery process can be seen as intrusive.
D. It is less private than arbitration.

Answer 4

D. It is less private than arbitration. (Correct answer)

Question 5

Arbitration is a binding dispute resolution process. (T/F)

Answer 5

True

Question 6

Litigation is a legal proceeding conducted to determine and enforce particular legal rights. (T/F)

Answer 6

True

Question 7

Arbitration is more expensive than litigation (T/F)

Answer 7

False

Question 8

Common law systems tend to be more adversarial than civil law systems (T/F)

Answer 8

True

Question 9

Today civil law is the most widespread system globally. (T/F)

Answer 9

True