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
QUESTION Establishment of which of the following would hold a coordinating bureaucracy accountable to the citizens of member nations? A. A political union B. A customs union C. An exclusive economic zone D. A free trade agreement E. A common market ANSWER A
Date: September 3rd, 2020
QUESTION Which of the following is defined as a central political apparatus that coordinates the economic, social, and foreign policy of the member-states? A. Free trade area B. Political union C. Economic union D. Common market E. Command economy ANSWER B
Date: September 3rd, 2020
QUESTION Which of the following is true with regard to an economic union? A. There are restrictions on immigration, emigration, or cross-border flow of capital among member countries. B. It entails less economic integration and cooperation than a common market. C. It involves the free flow of products and factors of production among member countries. […]
Date: September 3rd, 2020
QUESTION Which of the following supports the economic case for regional economic integration? A. International institutions such as the World Trade Organization have been moving the world away from a free trade regime. B. The greater the number of countries involved in a free trade agreement, the fewer the perspectives that must be reconciled. C. […]
Date: September 3rd, 2020
QUESTION Which of the following is true of the political case for regional economic integration? A. Linking neighboring economies increases the potential for violent conflict. B. Free trade stimulates economic growth, which creates dynamic gains from trade. C. Making neighboring economies increasingly dependent on each other fails to create incentives for political cooperation. D. Countries […]
Date: September 3rd, 2020
QUESTION Which of the following is true with regard to a free trade area? A. Factors of production are allowed to move freely between member nations. B. Each member country is allowed to determine its own trade policies with regard to nonmembers. C. Member nations are required to have a common currency. D. Member nations […]
Date: September 3rd, 2020
QUESTION Which of the following is a major consideration that underlay the establishment of the European Community? A. The pressing need to have a common currency that would make trade between European and non-European countries easier B. The need for a united Europe to deal with the United States and the politically alien Soviet Union […]
Date: September 3rd, 2020
