Test yourself. Choose the correct answer.

1. What is the subject of International Economic Law in the main?

(a) Economic relations between states.

(b) Economic relations between traders of different States.

(c) Economic relations between traders of different States and economic relations between different States.

(d) Economic relations between different regional trade blocks.

2. International Economic regulation can be concerned with two States only. It can also be concerned with many States. What are the terms to describe these two types of regulation?

(a) Bilateral and multilateral economic regulation.

(b) Regional and global trade block.

(c) Single and multiple economic regulation.

(d) Unipolar and multipolar trade affairs.

3. International Economic Law is increasingly seen to be having a dual character. This character relates to:

(a) Traders and trade blocks.

(b) Traders and States.

(c) Traders and politicians.

(d) Traders and banks.

4. Depending on the level of force behind an International Economic Law instrument, an instrument as such can be:

(a) Hard or soft law.

(b) Multilateral and bilateral agreement.

(c) Politicised or non-politicised agreement.

(d) Regional or global law.

5. What was the name of the Agreement that laid the foundations for the creation of the WTO, the IMF and the World Bank Group?

(a) The Bretton Woods Agreement (1944).

(b) The Postdam Agreement (1945).

(c) The Dayton Agreement (1995).

(d) The Luxembourg Agreement (2003).

6. What was the desire behind the Bretton Woods Agreement?

(a) A desire to put an end to the Second World War.

(b) A desire to eradicate the causes that led to the Second World War.

(c) A desire for creating a system of fluctuating currencies.

(d) A desire for the abolition of different currencies.

7. What was the ultimate of the Bretton Woods Agreement?

(a) The creation of a global alliance of States.

(b) The creation of an economic trade block.

(c) The creation of a new world economic order.

(d) The creation of a military alliance.

8. International Economic Law is primarily concerned with certain institutions of global remit. They are:

(a) The ASEAN, the EU and NAFTA.

(b) The WTO, the IMF and the World Bank Group.

(c) The UN and International Court of Justice.

(d) The NATO and the International Criminal Court.

9. International economic regulation operates on two levels. Which are they?

(a) Political and economic.

(b) Unipolar and multipolar.

(c) Regional and global.

(d) Financial and political.

10. Despite the global relevance of International Economic Law, such law is also concerned with the regulatory frameworks of certain regional trading blocks. Which are these blocks?

(a) The NATO and the G8.

(b) The WTO, the IMF and the World Bank Group.

(c) The World Intellectual Property Organization and the European Patent Office.

(d) The European Union, the European Free Trade Area, the North American Free Trade Agreement, Mercosur, the Association of Southeast Nations and the Asia-Pacific Economic Co-operation.