Exam 5: Global and Regional Economic Cooperation and Integration

The _____ provides for the certification process to assure consumers that by purchasing certified diamonds they were not financing war and human rights abuses.

Industrialized countries negotiate free trade and investment agreements with other countries, but exempt _____ from the liberalizing demands of the agreement.

The _____ provides the political leadership for the EU.

The concept of the most-favored-nation status as was established by the WTO has eased into a new principle called _____ due to the large number of countries that are following this practice.

One of the primary early missions of _____ was to prevent the domination of Southeast Asia by external powers.

Free trade advocates considered the establishment of _____ as a stepping stone toward the more ambitious grouping for a free trade agreement that would encompass the entire American continent except Cuba.

Dumping occurs when a company exports to a foreign market at a price that is either lower than the domestic prices in that country or less than the cost of production.

The _____ is the only institutional body charged with facilitating free and fair trade between member nations.

What was the primary goal for the development of the European Union (EU)?

MERCOSUR is committed to the consolidation of democracy and the maintenance of peace throughout the Asian continent.

The European Union is an example of an economic union because:

The Benelux countries refer to:

Which of the following is true about the UN Trusteeship Council?

The original intent of the United Nations is to maintain international peace and security, develop friendly relations between nations, and to foster international cooperation in solving economic, social, humanitarian, and cultural issues.

One of GATT's key provisions stated that if the most-favored-nation clause status was granted by a country to another country, then it was automatically extended to all other member countries.

Dumping refers to a situation when a company:

Maquiladoras refer to the:

What is TRIPS?

The primary difference of the customs union from the free trade area is that members agree to treat trade with nonmember countries in a similar manner.

Government procurement and bidding, industrial standards, and subsidies are examples of tariff trade barriers.