International Business 375 Chapter 9

Which of the following refers to agreements among countries in a geographic region to reduce and ultimately remove tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other?

Which of the following is true with regard to regional economic integration?

Where has the movement toward regional economic integration been most successful?

Which of the following is the economic level corresponding to the least integration?

Which of the following is defined as a group of countries committed to removing all barriers to the free flow of goods and services between each other, but pursuing independent external trade policies?

Which of the following is true with regard to a free trade area?

Which of the following are the most popular form of regional economic integration, accounting for almost 90 percent of regional agreements?

Which of the following is true of the European Free Trade Association (EFTA)?

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 best describes this arrangement?

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?

Which of the following is a feature of a common market?

Which of the following entails a closer economic integration and cooperation than a common market?

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?

Which of the following is true with regard to an economic union?

Establishment of which of the following would hold a coordinating bureaucracy accountable to the citizens of member nations?

Which of the following is defined as a central political apparatus that coordinates the economic, social, and foreign policy of the member-states?

Which of the following supports the economic case for regional economic integration?

Which of the following is true of the political case for regional economic integration?

Which of the following is a major consideration that underlay the establishment of the European Community?

Which of the following are the two impediments to regional economic integration?

Which of the following is an example of concerns over national sovereignty acting as an impediment to regional economic integration?

Which of the following occurs when high-cost domestic producers are replaced by low-cost producers within a free trade area?

Which of the following occurs when lower-cost external suppliers are replaced by higher-cost suppliers within a free trade area?

A regional free trade agreement will benefit the world only if:

The country of Argonia and the country of Berylia imposed tariffs on imports from all countries. They set up a free trade area, removing all trade barriers between themselves but maintaining tariffs on imports from the rest of the world. Argonia now begins to import sugar from Berylia. Previously, Argonia was indigenously producing sugar at a higher cost. Thus, Argonia benefits from this transaction.

Suppose the country of Ceria and Lithinia imposed tariffs on imports from all countries, and then they set up a free trade area, scrapping all trade barriers between themselves but maintaining tariffs on imports from the rest of the world. Now, Ceria begins to import sugar from Lithinia. However, Ceria had previously been importing sugar from another country, Cadnia, which produced sugar more cheaply than Ceria or Lithinia. This is known as:

Which of the following are significant trade blocs in Europe?

Which of the following is a factor that resulted in the establishment of the European Union (EU)?

The European Community was established with the signing in 1957 of the Treaty of:

The European Community became the European Union in 1993 following the ratification of the:

Which of the following is true of the Treaty of Rome?

Which of the following is responsible for proposing European Union legislation, implementing it, and monitoring compliance with European Union laws by member-states?

Which of the following institutions has a monopoly in proposing European Union legislation?

Which of the following is true about the European Commission?

Which of the following is considered to be the ultimate controlling authority within the European Union?

The European Council is considered to be the ultimate controlling authority within the European Union (EU) because:

Which of the following has 754 members as of 2014, and is directly elected by the populations of the member-states?

Which of the following meets in Strasbourg, France, is primarily a consultative rather than a legislative body, and debates legislation proposed by the commission and forwarded to it by the council?

Which of the following is true about the European Parliament?

Which of the following is true of the Treaty of Lisbon that was signed in 2007?

Which of the following is true of the Court of Justice?

Which of the following was a change proposed by the Single European Act?

Which of the following proposed that all impediments to the formation of a single market be eliminated by December 31, 1992, resulting in the Single European Act?

Which of the following is true of the Single European Act?

Which of the following treaties committed European Community members to adopt a common currency by January 1, 1999?

Which of the following comprises the euro zone?

Which of the following countries has adopted the euro as its currency?

Establishment of the euro required participating national governments to:

A benefit of adopting the euro as a common currency is that it:

A key advantage of adopting the euro is that it:

Over time the euro will impact the pan-European capital market by leading to:

Which of the following is a drawback of adopting the euro?

The Maastricht Treaty called for:

Which of the following is a reason for Great Britain, Denmark, and Sweden to stay out of the euro zone?

Similarities in the underlying structure of economic activity make it feasible to adopt a single currency and use a single exchange rate as an instrument of macroeconomic policy in a(n):

Which of the following is true of the euro since its establishment in 1999?

Which of the following refers to a permanent bailout fund, worth about €500 billion, set up by the euro zone nations to restore confidence in the euro?

Which of the following is true of the criteria to qualify for membership to the European Union?

Which of the following is true of the provisions of the North American Free Trade Agreement?

Which of the following is an expected consequence of the implementation of the North American Free Trade Agreement?

An argument against the North American Free Trade Agreement centered on the fear that ratification would result in:

Which of the following is a significant impact of the North American Free Trade Agreement (NAFTA)?

Which of the following is a major issue confronting the North American Free Trade Agreement?

Which of the following refers to a 1969 agreement among Bolivia, Chile, Ecuador, Colombia, and Peru to establish a customs union?

Which of the following is true of the Andean Pact of 1969?

Which of the following is true of the Andean Pact during the mid-1980s?

The Andean Community now operates as a(n):

Which of the following refers to a pact that originated in 1988 to establish a free trade area now including Argentina, Brazil, Paraguay, and Uruguay?

Which of the following is true of Alexander Yeats's criticism of the Andean Pact?

Which of the following is a reason why Mercosur was temporarily suspended in 2001?

Which of the following refers to a trade pact among Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, which began in the early 1960s but collapsed in 1969 due to war?

Which of the following led to the collapse of the Central American Common Market in 1969?

The agreement of the member-states of the Central American Common Market joined by the Dominican Republic to trade freely with the United States is known as the:

Which of the following is the aim of the Central America Free Trade Agreement?

Which of the following refers to an association of English-speaking Caribbean states that are attempting to establish a customs union?

Which of the following is the goal of the Caribbean Single Market and Economy?

Which of the following is a major obstacle to the establishment of the Free Trade Area of the Americas?

Which of the following refers to an attempt to establish a free trade area between Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam?

Which of the following is true of the Asia-Pacific Economic Cooperation (APEC)?

Which of the following is true with regard to the Asia-Pacific Economic Cooperation (APEC)?

Which of the following is true of the East African Community (EAC)?

Which of the following is a threat facing the emergence of single markets?