Exam 8: Economic Integration, emerging and Developing Markets

TireCo is a tire-making company headquartered in France,with operations in several European countries. As a result of these countries' membership in the EU,the company has benefited from lower production costs due to greater access to highly skilled labor at a lower cost to the company. This can best be described as:

Describe the current status of the North American Free Trade Agreement. What do the member countries stand to gain or lose as a result of participation?

The Arab Maghreb Union applies to countries located in which region of the world?

A larger market will tend to increase the number of competing firms,resulting in greater efficiency and lower prices for consumers. This is due to:

The executive body of the EU is the Council of Ministers,headquartered in Rome.

Microfinance is the provision of a small amount of funds for clients in emerging economies.

Members of the Group of Five include the United States,Britain,France,Germany,and:

A major difficulty towards achieving economic integration within _________ has been the administration of a common agricultural policy (CAP).

A factor market involves a group of countries that agree to (1)remove all barriers to trade,(2)establish a common trade policy with respect to nonmembers,and (3)allow mobility for factors of production.

The least restrictive form of economic integration is a(n)________,in which all barriers to trade among member countries are removed,although sometimes only for certain goods or services.

The MERCOSUR trading bloc includes all of the following countries EXCEPT:

The international manager,as a change agent,must constantly seek ways to influence the regulatory environment in which he or she must operate. This can best be done via:

___________ is an integrated system of subsidies and rebates applied to agricultural interests in the European Union.

A German and an American are discussing differences between political and economic organizations within their respective countries. The German explains that the EU organization that is most like the U.S.judicial system is the:

The objective of the Economic Community of West African States (ECOWAS)was to:

Jen lives in a European country that harmonizes monetary policies,taxation,and government spending,and also has a common currency,the Euro. This type of integration can best be described as a(n):

Which of the following represents the greatest barrier to business for emerging economies?

________ is the ability to freely move factors of production across borders,as among common market countries.

A(n)_________ has the characteristics of a common market and also harmonizes monetary policies,taxation,and government spending and uses a common currency.

In 1957,the European Economic Community was formally established by the Treaty of: