QUESTION Which of the following are the two impediments to regional economic integration? A. Labor activism and political ideologies B. Immigration and political ideologies C. Costs and national sovereignty D. Political will and popular support E. Political ideologies and international policies ANSWER C
Date: September 3rd, 2020
QUESTION Where has the movement toward regional economic integration been most successful? A. Africa B. South America C. North America D. Europe E. Asia ANSWER D
Date: September 3rd, 2020
QUESTION Which of the following occurs when lower-cost external suppliers are replaced by higher-cost suppliers within a free trade area? A. Trade creation B. Strategic pricing C. Synergy D. Trade diversion E. Protectionism ANSWER D
Date: September 3rd, 2020
QUESTION Three countries enter into an agreement to remove all tariffs and trade barriers between them. They decide on a common trade policy with regard to nonmembers. Faced with political backlash, the countries stop short of allowing mobility of factors of production such as labor and capital. Which of the following levels of economic integration […]
Date: September 3rd, 2020
QUESTION Which of the following is true of the European Free Trade Association (EFTA)? A. The emphasis of EFTA has been on free trade in agricultural goods. B. Industrial goods were left out of the trade arrangement, each member being allowed to determine its own level of support. C. Members cannot determine the level of […]
Date: September 3rd, 2020
QUESTION Which of the following are the most popular form of regional economic integration, accounting for almost 90 percent of regional agreements? A. Licensing agreements B. Economic unions C. Common markets D. Free trade agreements E. Political unions ANSWER D
Date: September 3rd, 2020
QUESTION Which of the following is a feature of a common market? A. Absence of a common external trade policy with regard to nonmembers B. Free movement of factors of production between member nations C. Establishment of barriers to the free flow of goods between member nations D. Lack of administrative machinery to oversee trade […]
Date: September 3rd, 2020
QUESTION Which of the following entails a closer economic integration and cooperation than a common market? A. Command economy B. Customs union C. Efficient market D. Free trade area E. Economic union ANSWER E
Date: September 3rd, 2020
QUESTION Which of the following has no barriers to trade between member countries, includes a common external trade policy, and allows factors of production to move freely between members? A. Command economy B. Customs union C. Common market D. Efficient market E. Free trade area ANSWER C
Date: September 3rd, 2020
QUESTION Which of the following levels of economic integration involves the use of a common currency, harmonization of members’ tax rates, and a common monetary and fiscal policy? A. Free trade area B. Customs union C. Common market D. Economic union E. Command economy ANSWER D
Date: September 3rd, 2020
