Question 1

Explain possible political and economic benefits of global economic integration.

Accepted Answer

The postwar urge for global economic int

Question 2

Which of the NAFTA members benefited the most from this free trade agreement by securing preferential treatment for 80% of its exports?

Accepted Answer

A)  US 
B)  Mexico 
C)  Canada 
D)  All the countries benefited equally 
A)  US 
B)  Mexico 
C)  Canada 
D)  All the countries benefited equally

Question 3

Mercosur is relatively more protectionist and suspicious of the US, whereas the Andean Community is more pro-free trade.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is NOT a benefit of adopting the euro?

Accepted Answer

A)  Reducing currency conversion costs 
B)  Limiting the flexibility in fiscal policy 
C)  Facilitating direct price comparison 
D)  Imposing monetary discipline on governments 
A)  Reducing currency conversion costs 
B)  Limiting the flexibility in fiscal policy 
C)  Facilitating direct price comparison 
D)  Imposing monetary discipline on governments

Question 5

Which of the following is NOT an economic benefit of global economic integration?

Accepted Answer

A)  Disputes are handled constructively. 
B)  Building confidence in a multilateral trading system. 
C)  Rules make life easier and discrimination impossible for all participating countries. 
D)  Free trade and investment raise incomes and stimulate economic growth. 
A)  Disputes are handled constructively. 
B)  Building confidence in a multilateral trading system. 
C)  Rules make life easier and discrimination impossible for all participating countries. 
D)  Free trade and investment raise incomes and stimulate economic growth.

Question 6

In a(n) ____, members coordinate and harmonize monetary, fiscal, and taxation policies.

Accepted Answer

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

Question 7

NAFTA is an example of a common market.

Accepted Answer

A) True 
 B)False

Question 8

Explain how the European Union, as an economic union, has helped its member countries break down barriers to regional trade.

Accepted Answer

The EU is a single market in which busin

Question 9

The ANZCERTA or CER, launched in 1983, turned historical rivalry between Australia and New Zealand into a partnership.

Accepted Answer

A) True 
 B)False

Question 10

Schengen is a passport-free travel zone within the EU.

Accepted Answer

A) True 
 B)False

Question 11

General Agreement on Tariffs and Trade (GATT) expanded considerably into WTO.

Accepted Answer

A) True 
 B)False

Question 12

EU can be best described as the United States of Europe.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is an agreement regulating intellectual property?

Accepted Answer

A)  GATT 
B)  GATS 
C)  IPA 
D)  TRIPS 
A)  GATT 
B)  GATS 
C)  IPA 
D)  TRIPS

Question 14

Which of the following institutions was established following World War II to regulate the trade between countries?

Accepted Answer

A)  WTO, World Trade Organization 
B)  GATT, General Agreement on Tariffs and Trade 
C)  UN, United Nations 
D)  EU, European Union 
A)  WTO, World Trade Organization 
B)  GATT, General Agreement on Tariffs and Trade 
C)  UN, United Nations 
D)  EU, European Union

Question 15

The hot potato of the Doha round turned out to be intellectual property.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is the economic trade agreement between Australia and New Zealand?

Accepted Answer

A)  ANZCERTA 
B)  ASEAN 
C)  APEC 
D)  ANZU 
A)  ANZCERTA 
B)  ASEAN 
C)  APEC 
D)  ANZU

Question 17

Efforts to reduce trade and investment barriers within one region refer to:

Accepted Answer

A)  Global economic integration 
B)  Local economic integration 
C)  Regional economic integration 
D)  Both local and regional integration 
A)  Global economic integration 
B)  Local economic integration 
C)  Regional economic integration 
D)  Both local and regional integration

Question 18

What is the main reason the US, Canada, and Australia decided to join the Asia-Pacific Economic Cooperation (APEC)?

Accepted Answer

A)  No one wants to be left out of the most dynamic region in the world. 
B)  The APEC members desire closer economic integration. 
C)  Common political/economic interests 
D)  All of these answers 
A)  No one wants to be left out of the most dynamic region in the world. 
B)  The APEC members desire closer economic integration. 
C)  Common political/economic interests 
D)  All of these answers

Question 19

Which of the following regional integration is yet to be established?

Accepted Answer

A)  Mercosur 
B)  Andean Community 
C)  FTAA 
D)  CAFTA 
A)  Mercosur 
B)  Andean Community 
C)  FTAA 
D)  CAFTA

Question 20

In 1989 ASEAN and CER countries formed yet another regional entity, the APEC.

Accepted Answer

A) True 
 B)False

Explain possible political and economic benefits of global economic integration.

Which of the NAFTA members benefited the most from this free trade agreement by securing preferential treatment for 80% of its exports?

Mercosur is relatively more protectionist and suspicious of the US, whereas the Andean Community is more pro-free trade.

Which of the following is NOT a benefit of adopting the euro?

Which of the following is NOT an economic benefit of global economic integration?

In a(n) ____, members coordinate and harmonize monetary, fiscal, and taxation policies.

NAFTA is an example of a common market.

Explain how the European Union, as an economic union, has helped its member countries break down barriers to regional trade.

The ANZCERTA or CER, launched in 1983, turned historical rivalry between Australia and New Zealand into a partnership.

Schengen is a passport-free travel zone within the EU.

General Agreement on Tariffs and Trade (GATT) expanded considerably into WTO.

EU can be best described as the United States of Europe.

Which of the following is an agreement regulating intellectual property?

Which of the following institutions was established following World War II to regulate the trade between countries?

The hot potato of the Doha round turned out to be intellectual property.

Which of the following is the economic trade agreement between Australia and New Zealand?

Efforts to reduce trade and investment barriers within one region refer to:

What is the main reason the US, Canada, and Australia decided to join the Asia-Pacific Economic Cooperation (APEC)?

Which of the following regional integration is yet to be established?

In 1989 ASEAN and CER countries formed yet another regional entity, the APEC.

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

Explain possible political and economic benefits of global economic integration.

Which of the NAFTA members benefited the most from this free trade agreement by securing preferential treatment for 80% of its exports?

Mercosur is relatively more protectionist and suspicious of the US, whereas the Andean Community is more pro-free trade.

Which of the following is NOT a benefit of adopting the euro?

Which of the following is NOT an economic benefit of global economic integration?

In a(n) ____, members coordinate and harmonize monetary, fiscal, and taxation policies.

NAFTA is an example of a common market.

Explain how the European Union, as an economic union, has helped its member countries break down barriers to regional trade.

The ANZCERTA or CER, launched in 1983, turned historical rivalry between Australia and New Zealand into a partnership.

Schengen is a passport-free travel zone within the EU.

General Agreement on Tariffs and Trade (GATT) expanded considerably into WTO.

EU can be best described as the United States of Europe.

Which of the following is an agreement regulating intellectual property?

Which of the following institutions was established following World War II to regulate the trade between countries?

The hot potato of the Doha round turned out to be intellectual property.

Which of the following is the economic trade agreement between Australia and New Zealand?

Efforts to reduce trade and investment barriers within one region refer to:

What is the main reason the US, Canada, and Australia decided to join the Asia-Pacific Economic Cooperation (APEC)?

Which of the following regional integration is yet to be established?

In 1989 ASEAN and CER countries formed yet another regional entity, the APEC.

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