Question 1

Which of the following regional integrations is more pro-free trade oriented than others?

Accepted Answer

A)  Mercosur 
B)  Andean Community 
C)  Latin American Union 
D)  CAFTA 
A)  Mercosur 
B)  Andean Community 
C)  Latin American Union 
D)  CAFTA B

Question 2

All Latin American countries launched negotiations with Canada and the US for a possible Free Trade Area of the Americas.

Accepted Answer

A) True 
 B)False  False

Question 3

NAFTA, a free trade agreement between Canada, Mexico, and the United States, secured Mexico a preferential treatment for 80% of its exports.

Accepted Answer

A) True 
 B)False  True

Question 4

Which of the following is NOT a benefit of regional economic integration?

Accepted Answer

A)  Promoting peace by fostering closer economic ties 
B)  Setting consistent rules to make discriminatory regulations impossible 
C)  Allowing free trade to raise incomes and create new jobs 
D)  Increasing sovereignty of integrated countries 
A)  Promoting peace by fostering closer economic ties 
B)  Setting consistent rules to make discriminatory regulations impossible 
C)  Allowing free trade to raise incomes and create new jobs 
D)  Increasing sovereignty of integrated countries

Question 5

Which does ASEAN stand for?

Accepted Answer

A)  Assembly of Southeast Asian Nations 
B)  Assembly of South American Nations 
C)  Association of Southeast Asian Nations 
D)  Association of South American Nations 
A)  Assembly of Southeast Asian Nations 
B)  Assembly of South American Nations 
C)  Association of Southeast Asian Nations 
D)  Association of South American Nations

Question 6

Which one of the following is NOT a function of WTO?

Accepted Answer

A)  Regulation of subsidies on agricultural products 
B)  Dispute settlement 
C)  Trade policy reviews 
D)  Regulation of trade of goods, services, and intellectual property 
A)  Regulation of subsidies on agricultural products 
B)  Dispute settlement 
C)  Trade policy reviews 
D)  Regulation of trade of goods, services, and intellectual property

Question 7

The EU became an economic union when the ____ went into affect in 1993.

Accepted Answer

A)  Treaty of Rome 
B)  Maastricht Treaty 
C)  Treaty of Bristles 
D)  Madrid Treaty 
A)  Treaty of Rome 
B)  Maastricht Treaty 
C)  Treaty of Bristles 
D)  Madrid Treaty

Question 8

The European Union became a political union after the Budapest Treaty had been ratified in late 2006.

Accepted Answer

A) True 
 B)False

Question 9

Which one of the following was NOT part of the agenda of the Doha round?

Accepted Answer

A)  Reducing agricultural subsidies in developing countries 
B)  Slashing tariffs in the industries that developing countries might benefit from 
C)  Freeing up trade in services 
D)  Strengthening intellectual property protection 
A)  Reducing agricultural subsidies in developing countries 
B)  Slashing tariffs in the industries that developing countries might benefit from 
C)  Freeing up trade in services 
D)  Strengthening intellectual property protection

Question 10

At present, ____ of the ____ EU member countries are in the Schengen zone.

Accepted Answer

A)  none, 41 
B)  22, 41 
C)  all, 27 
D)  22, 27 
A)  none, 41 
B)  22, 41 
C)  all, 27 
D)  22, 27

Question 11

Discuss the challenges faced by the EU member countries sharing a common currency, the euro.

Accepted Answer

Seventeen EU members adopted the euro. C

Question 12

A(n) ____ union represents complete integration of all public affairs within a region.

Accepted Answer

A)  Custom 
B)  Monetary 
C)  Economic 
D)  Political 
A)  Custom 
B)  Monetary 
C)  Economic 
D)  Political

Question 13

The WTO has six main areas of concern, including trade of goods, services, intellectual property, and banning governments from protecting their agricultural industry.

Accepted Answer

A) True 
 B)False

Question 14

Regional economic integration refers to efforts to reduce trade and investment barriers throughout the globe.

Accepted Answer

A) True 
 B)False

Question 15

Identify how the WTO addressed the former problems of the old GATT and how WTO executes their decisions.

Accepted Answer

The WTO addresses problems as follows: 1

Question 16

Countries benefit from global economic integration politically and economically. Which of the following is an example of a political benefit?

Accepted Answer

A)  Rules make life easier and discrimination impossible 
B)  Raise incomes and stimulate economic growth 
C)  Disputes are handled constructively 
D)  Promoting peace by promoting trade and investment 
A)  Rules make life easier and discrimination impossible 
B)  Raise incomes and stimulate economic growth 
C)  Disputes are handled constructively 
D)  Promoting peace by promoting trade and investment

Question 17

The World Trade Organization was created after World War II as a multilateral trading system.

Accepted Answer

A) True 
 B)False

Question 18

Three EU members Britain, Denmark and Sweden do not use the euro as their currency.

Accepted Answer

A) True 
 B)False

Question 19

Discuss the future of FTAA and CAFTA.

Accepted Answer

In 1998, all Latin America countries (ex

Question 20

Which of the following is an example of a customs union?

Accepted Answer

A)  Mercosur (Eastern South America) 
B)  EU (European Union) 
C)  RC (Russian Confederation) 
D)  Eastern Europe (Romania, Bulgaria) 
A)  Mercosur (Eastern South America) 
B)  EU (European Union) 
C)  RC (Russian Confederation) 
D)  Eastern Europe (Romania, Bulgaria)

Which of the following regional integrations is more pro-free trade oriented than others?

All Latin American countries launched negotiations with Canada and the US for a possible Free Trade Area of the Americas.

NAFTA, a free trade agreement between Canada, Mexico, and the United States, secured Mexico a preferential treatment for 80% of its exports.

Which of the following is NOT a benefit of regional economic integration?

Which does ASEAN stand for?

Which one of the following is NOT a function of WTO?

The EU became an economic union when the ____ went into affect in 1993.

The European Union became a political union after the Budapest Treaty had been ratified in late 2006.

Which one of the following was NOT part of the agenda of the Doha round?

At present, of the EU member countries are in the Schengen zone.

Discuss the challenges faced by the EU member countries sharing a common currency, the euro.

A(n) ____ union represents complete integration of all public affairs within a region.

The WTO has six main areas of concern, including trade of goods, services, intellectual property, and banning governments from protecting their agricultural industry.

Regional economic integration refers to efforts to reduce trade and investment barriers throughout the globe.

Identify how the WTO addressed the former problems of the old GATT and how WTO executes their decisions.

Countries benefit from global economic integration politically and economically. Which of the following is an example of a political benefit?

The World Trade Organization was created after World War II as a multilateral trading system.

Three EU members Britain, Denmark and Sweden do not use the euro as their currency.

Discuss the future of FTAA and CAFTA.

Which of the following is an example of a customs union?

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing With Foreign Exchange

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing, Structuring, and Learning Around the World

Competing on Marketing and Supply Chain Management

Filters

Exam 8: Capitalizing on Global and Regional Integration

Which of the following regional integrations is more pro-free trade oriented than others?

All Latin American countries launched negotiations with Canada and the US for a possible Free Trade Area of the Americas.

NAFTA, a free trade agreement between Canada, Mexico, and the United States, secured Mexico a preferential treatment for 80% of its exports.

Which of the following is NOT a benefit of regional economic integration?

Which does ASEAN stand for?

Which one of the following is NOT a function of WTO?

The EU became an economic union when the ____ went into affect in 1993.

The European Union became a political union after the Budapest Treaty had been ratified in late 2006.

Which one of the following was NOT part of the agenda of the Doha round?

At present, ____ of the ____ EU member countries are in the Schengen zone.

Discuss the challenges faced by the EU member countries sharing a common currency, the euro.

A(n) ____ union represents complete integration of all public affairs within a region.

The WTO has six main areas of concern, including trade of goods, services, intellectual property, and banning governments from protecting their agricultural industry.

Regional economic integration refers to efforts to reduce trade and investment barriers throughout the globe.

Identify how the WTO addressed the former problems of the old GATT and how WTO executes their decisions.

Countries benefit from global economic integration politically and economically. Which of the following is an example of a political benefit?

The World Trade Organization was created after World War II as a multilateral trading system.

Three EU members Britain, Denmark and Sweden do not use the euro as their currency.

Discuss the future of FTAA and CAFTA.

Which of the following is an example of a customs union?

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing With Foreign Exchange

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing, Structuring, and Learning Around the World

Competing on Marketing and Supply Chain Management

Filters

At present, of the EU member countries are in the Schengen zone.