Ch. 8- Quiz

Question 1

Which one of the following is the process whereby countries in a geographic region cooperate to reduce or eliminate barriers to the international flow of​ products, people, or​ capital?

Answer 1

Regional economic integration​ (regionalism)

Question 2

A​ ________ is the lowest extent of national integration.

Answer 2

free trade area

Question 3

What is the main difference between a free trade area and a customs​ union?

Answer 3

Members of a customs union agree to treat trade with all nonmember nations in a similar manner.

Question 4

Which of the following is a positive effect of regional trade​ agreements?

Answer 4

Trade creation

Question 5

Which of the following is a negative effect of regional trade​ agreements?

Answer 5

Loss of national sovereignty

Question 6

Which of the following is a main regional trading​ bloc?

Answer 6

European Union

Question 7

​Today, the EU has​ ________ members.

Answer 7

28

Question 8

The currency of the EU is the​ ________.

Answer 8

euro

Question 9

Which of the following is a criterion for member nations to use the euro as outlined in the Maastricht​ Treaty?

Answer 9

A level of inflation no greater than​ 3.2%

Question 10

The structure of the EU includes which one of the​ following?

Answer 10

Council of the EU

Question 11

Candidates for EU membership become members after they meet certain demands. Which one of the following is one of those​ demands?

Answer 11

Stable institutions that guarantee​ democracy, rule of​ law, and human rights

Question 12

Which one of the following is a reason that some European countries did not join the​ EU?

Answer 12

They feared destructive rivalries and loss of national sovereignty.

Question 13

Which of the following is a provision of​ NAFTA?

Answer 13

Elimination of tariffs on goods originating within North America

Question 14

Criteria that determine whether a good meets NAFTA rules of origin include which one of the​ following?

Answer 14

Goods wholly produced or obtained in the NAFTA region

Question 15

Which of the following is an effect of​ NAFTA?

Answer 15

The United States exports more to Mexico.

Question 16

Which one of the following is a trade bloc in the​ Americas?

Answer 16

​CAFTA-DR

Question 17

Which of the following statements about ASEAN is​ TRUE?

Answer 17

ASEAN seeks to counter​ China’s rising​ strength, resources of cheap​ labor, and abundant raw materials.

Question 18

Which one of the following is a fact about ASEAN that warrants​ consideration?

Answer 18

Corruption and shadow markets

Question 19

Which one of the following describes Asia Pacific Economic Cooperation​ (APEC)?

Answer 19

APEC wants to simplify and harmonize customs procedures.

Question 20

Which one of the following is an area of progress for The Economic Community of West African States​ (ECOWAS)?

Answer 20

Development of international telecommunication links

Question 21

Which one of the following statements describes the African Union​ (AU)?

Answer 21

The aim of the AU is to remove vestiges of colonialism and apartheid.

Question 22

Which one of the following statements about the Gulf Cooperation Council​ (GCC) is​ TRUE?

Answer 22

The primary purpose was to cooperate with the EU and EFTA.

Question 23

Which organization of Asian countries also includes the United​ States?

Answer 23

The organization for Asia Pacific Economic Cooperation

Question 24

Which one of the following is a problem facing Economic Community of West African States​ (ECOWAS)?

Answer 24

Political instability

Question 25

Which one of the following describes the Closer Economic Relations​ (CER) Agreement?

Answer 25

Australia and New Zealand created a free trade agreement in 1966.