Question 1

Which of the following changes was introduced to the EU through the Lisbon Treaty?

Accepted Answer

A)  Establishment a passport-free travel zone within the EU 
B)  Appointment of a long-term President of the European Council 
C)  Transformation of the EU into an FTA 
D)  Creation of a common currency for EU members 
A)  Establishment a passport-free travel zone within the EU 
B)  Appointment of a long-term President of the European Council 
C)  Transformation of the EU into an FTA 
D)  Creation of a common currency for EU members B

Question 2

GATS is a WTO agreement governing _____.

Accepted Answer

A)  trade dispute settlement mechanisms 
B)  the international trade of services 
C)  intellectual property rights 
D)  trade policy reviews 
A)  trade dispute settlement mechanisms 
B)  the international trade of services 
C)  intellectual property rights 
D)  trade policy reviews B

Question 3

Regional economic integration refers to efforts to reduce trade and investment barriers within one economic region.

Accepted Answer

A) True 
 B)False  True

Question 4

The Andean Community is more pro-free trade than Mercosur.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is an effect of adopting the euro as a currency for EU members?

Accepted Answer

A)  It implements independent monetary policies for each nation. 
B)  It provides unlimited flexibility in fiscal policy making. 
C)  It increases currency conversion costs. 
D)  It facilitates direct and transparent price comparison. 
A)  It implements independent monetary policies for each nation. 
B)  It provides unlimited flexibility in fiscal policy making. 
C)  It increases currency conversion costs. 
D)  It facilitates direct and transparent price comparison.

Question 6

The UNASUR is a free trade agreement between the United States and five Central American countries and the Dominican Republic.

Accepted Answer

A) True 
 B)False

Question 7

Local content requirements is an example of a nontariff barrier.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is an example of regional economic integration?

Accepted Answer

A)  The European Union 
B)  The British Commonwealth 
C)  The Cingular and AT&T merger 
D)  The Commonwealth of Independent States 
A)  The European Union 
B)  The British Commonwealth 
C)  The Cingular and AT&T merger 
D)  The Commonwealth of Independent States

Question 9

NAFTA is an example of an economic union.

Accepted Answer

A) True 
 B)False

Question 10

One of the main objectives for establishing the WTO was to strengthen the trade dispute settlement mechanism.

Accepted Answer

A) True 
 B)False

Question 11

The Mercosur countries collectively represent the second largest US export in Latin America.

Accepted Answer

A) True 
 B)False

Question 12

The General Agreement on Tariffs and Trade (GATT)expanded considerably into a multilateral trading system called _____.

Accepted Answer

A)  EU 
B)  NAFTA 
C)  UN 
D)  WTO 
A)  EU 
B)  NAFTA 
C)  UN 
D)  WTO

Question 13

Which of the following regions describes the euro zone?

Accepted Answer

A)  A region that comprises EU members without a common currency 
B)  A region that comprises all EU members 
C)  A region that has passport-free traveling 
D)  A region that has a common currency 
A)  A region that comprises EU members without a common currency 
B)  A region that comprises all EU members 
C)  A region that has passport-free traveling 
D)  A region that has a common currency

Question 14

TRIPS is a WTO agreement governing the international trade of services.

Accepted Answer

A) True 
 B)False

Question 15

While emphasizing economic benefits,the most fundamental goal of global economic integration is to promote peace.

Accepted Answer

A) True 
 B)False

Question 16

All members of the EU have adopted the euro as their currency.

Accepted Answer

A) True 
 B)False

Question 17

The GATT was a multilateral agreement governing the international trade of goods (merchandise)before World War II.

Accepted Answer

A) True 
 B)False

Question 18

A customs union imposes common external policies on nonparticipants in order to combat trade diversion.

Accepted Answer

A) True 
 B)False

Question 19

The WTO sets time limits for a panel,consisting of three neutral countries,to reach a judgment for trade dispute settlements.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A)  The EU 
B)  The United States 
C)  The British Commonwealth 
D)  The Andean Community 
A)  The EU 
B)  The United States 
C)  The British Commonwealth 
D)  The Andean Community

Which of the following changes was introduced to the EU through the Lisbon Treaty?

GATS is a WTO agreement governing _____.

Regional economic integration refers to efforts to reduce trade and investment barriers within one economic region.

The Andean Community is more pro-free trade than Mercosur.

Which of the following is an effect of adopting the euro as a currency for EU members?

The UNASUR is a free trade agreement between the United States and five Central American countries and the Dominican Republic.

Local content requirements is an example of a nontariff barrier.

Which of the following is an example of regional economic integration?

NAFTA is an example of an economic union.

One of the main objectives for establishing the WTO was to strengthen the trade dispute settlement mechanism.

The Mercosur countries collectively represent the second largest US export in Latin America.

The General Agreement on Tariffs and Trade (GATT)expanded considerably into a multilateral trading system called _____.

Which of the following regions describes the euro zone?

TRIPS is a WTO agreement governing the international trade of services.

While emphasizing economic benefits,the most fundamental goal of global economic integration is to promote peace.

All members of the EU have adopted the euro as their currency.

The GATT was a multilateral agreement governing the international trade of goods (merchandise)before World War II.

A customs union imposes common external policies on nonparticipants in order to combat trade diversion.

The WTO sets time limits for a panel,consisting of three neutral countries,to reach a judgment for trade dispute settlements.

Which of the following is an example of a political 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

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

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Exam 8: Capitalizing on Global and Regional Integration

Which of the following changes was introduced to the EU through the Lisbon Treaty?

GATS is a WTO agreement governing _____.

Regional economic integration refers to efforts to reduce trade and investment barriers within one economic region.

The Andean Community is more pro-free trade than Mercosur.

Which of the following is an effect of adopting the euro as a currency for EU members?

The UNASUR is a free trade agreement between the United States and five Central American countries and the Dominican Republic.

Local content requirements is an example of a nontariff barrier.

Which of the following is an example of regional economic integration?

NAFTA is an example of an economic union.

One of the main objectives for establishing the WTO was to strengthen the trade dispute settlement mechanism.

The Mercosur countries collectively represent the second largest US export in Latin America.

The General Agreement on Tariffs and Trade (GATT)expanded considerably into a multilateral trading system called _____.

Which of the following regions describes the euro zone?

TRIPS is a WTO agreement governing the international trade of services.

While emphasizing economic benefits,the most fundamental goal of global economic integration is to promote peace.

All members of the EU have adopted the euro as their currency.

The GATT was a multilateral agreement governing the international trade of goods (merchandise)before World War II.

A customs union imposes common external policies on nonparticipants in order to combat trade diversion.

The WTO sets time limits for a panel,consisting of three neutral countries,to reach a judgment for trade dispute settlements.

Which of the following is an example of a political 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

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

Filters