Question 1

Discuss the four levels of economic integration in countries.

Accepted Answer

The answer of Discuss the four levels of economic integration...

Question 2

__________ includes goods kept on hand to prevent a shortage in times of unexpected demand.

Accepted Answer

The answer of __________ includes goods kept on hand to...

Question 3

The __________ is the original agreement that established the foundation for the formation of the European Economic Community.

Accepted Answer

The answer of The __________ is the original agreement that...

Question 4

A(n)_______ is a group of countries that have common foreign policy and security policy that share judicial cooperation.

Accepted Answer

A) Free-trade area 
B) Customs union 
C) Common market 
D) Economic union 
E) Political union

Question 5

In 1999,China proposed the Asia Pacific Economic Cooperation as an annual forum.

Accepted Answer

A) True 
 B)False

Question 6

_________ will lead to the movement of labor and capital from areas of low productivity to areas of high productivity.

Accepted Answer

A) Trade creation 
B) Supply chain management 
C) Trade diversion 
D) Price mobility 
E) Factor mobility

Question 7

Either negative or positive effects may result when a group of countries trade freely among themselves but maintain common barriers to trade with nonmembers.

Accepted Answer

A) True 
 B)False

Question 8

The __________ extended trade preferences to Caribbean countries granting them special access to the markets of the United States.

Accepted Answer

The answer of The __________ extended trade preferences to Caribbean...

Question 9

_________ is a benefit of economic integration,resulting in increased exports to member countries.

Accepted Answer

The answer of _________ is a benefit of economic integration,resulting...

Question 10

__________ refers to lower production costs resulting from greater production for an enlarged market.

Accepted Answer

A) Production creation 
B) Trade diversion 
C) Internal economies of scale 
D) External economies of scale 
E) Factor mobility

Question 11

Which free trade agreement includes the United States,Canada,and Mexico?

Accepted Answer

A) NAFTA 
B) AFTAN 
C) NAALC 
D) EU 
E) MERCOSUR

Question 12

In October 1991,Brunei,Indonesia,Malaysia,and other Southeast Asian countries formed a customs union called:

Accepted Answer

A) ASEAN 
B) ASEAN Free Trade Area 
C) EAEG 
D) APEC 
E) APEC Free Trade Agreement

Question 13

Since NAFTA took effect in 1994,trade among Canada,Mexico,and the United States has stayed virtually the same.

Accepted Answer

A) True 
 B)False

Question 14

A(n)_______ is an association of producers of a particular good,consisting either of private firms or nations,formed for the purpose of suppressing the market forces affecting prices.

Accepted Answer

A) oligarchy 
B) cartel 
C) commodity price agreement 
D) buffer 
E) trade diversion

Question 15

The four freedoms identified in the economic and monetary union (EMU)include coordination of economic policies,creation of a European central bank,replacement of national monetary authorities,and:

Accepted Answer

A) Adoption of the U.S.dollar as the common currency 
B) Adoption of the Euro as the common currency 
C) Establishment of a free trade area 
D) Adoption of Spanish as the common language 
E) Adoption of English as the common language

Question 16

__________ is the cost to a particular country when a group of countries trade a product freely among themselves but maintain common barriers to trade with nonmembers.

Accepted Answer

A) Trade creation 
B) Trade diversion 
C) Balance of power 
D) Economies of scale 
E) Trade deficit

Question 17

The primary difficulty within the European Union in terms of achieving the goal of free movement of goods has been an inability to agree on a common:

Accepted Answer

A) Language 
B) Religion 
C) Trade policy 
D) Currency 
E) Immigration policy

Question 18

Economically speaking,the Arab Maghreb Union is one of the most powerful of any trade groups

Accepted Answer

A) True 
 B)False

Question 19

In North American integration,the interest is more economic than political or social.

Accepted Answer

A) True 
 B)False

Question 20

Members of the Group of Five include the United States,Britain,France,China,and Russia.

Accepted Answer

A) True 
 B)False

Exam 8: Economic Integration, emerging and Developing Markets

Discuss the four levels of economic integration in countries.

__________ includes goods kept on hand to prevent a shortage in times of unexpected demand.

The __________ is the original agreement that established the foundation for the formation of the European Economic Community.

A(n) _______ is a group of countries that have common foreign policy and security policy that share judicial cooperation.

In 1999,China proposed the Asia Pacific Economic Cooperation as an annual forum.

_________ will lead to the movement of labor and capital from areas of low productivity to areas of high productivity.

Either negative or positive effects may result when a group of countries trade freely among themselves but maintain common barriers to trade with nonmembers.

The __________ extended trade preferences to Caribbean countries granting them special access to the markets of the United States.

_________ is a benefit of economic integration,resulting in increased exports to member countries.

__________ refers to lower production costs resulting from greater production for an enlarged market.

Which free trade agreement includes the United States,Canada,and Mexico?

In October 1991,Brunei,Indonesia,Malaysia,and other Southeast Asian countries formed a customs union called:

Since NAFTA took effect in 1994,trade among Canada,Mexico,and the United States has stayed virtually the same.

A(n) _______ is an association of producers of a particular good,consisting either of private firms or nations,formed for the purpose of suppressing the market forces affecting prices.

The four freedoms identified in the economic and monetary union (EMU) include coordination of economic policies,creation of a European central bank,replacement of national monetary authorities,and:

__________ is the cost to a particular country when a group of countries trade a product freely among themselves but maintain common barriers to trade with nonmembers.

The primary difficulty within the European Union in terms of achieving the goal of free movement of goods has been an inability to agree on a common:

Economically speaking,the Arab Maghreb Union is one of the most powerful of any trade groups

In North American integration,the interest is more economic than political or social.

Members of the Group of Five include the United States,Britain,France,China,and Russia.