Chapter 10: The Americas And The Caribbean Basin

Question 1

Andean

Answer 1

A term that originated with early archaeologists that studied the civilizations in the mountains of Peru and Bolivia in western South America

Question 2

Andean Trade Preference Act (ATPA)

Answer 2

The primary trade agreement between the United States and northern South America, established in 1991

Question 3

Andean Trade Promotion and Drug Eradication Act (ATPDEA)

Answer 3

An agreement among the United States, Peru, and Bolivia in 2003 that made those countries eligible for duty-free treatment on exports of US goods for the first time

Question 4

Caribbean Basin Economic Recovery Act (CBERA)

Answer 4

Commonly known as the Caribbean Basin Initiative (CBI), a Trade preference program initiated by the US in 1983 that expanded the use of item 807 by eliminating quota restraints

Question 5

Central America-Dominican Republic-United States Free Trade Agreement (CAFTA-DR)

Answer 5

(2002) an agreement intended to solidify the United States as the leading supplier of good and services to Central America and Dominican Republic and to provide these countries with duty free access to the US market

Question 6

Charge-back

Answer 6

A financial penalty imposed by the customer on a vendor for noncompliance with established vendor compliance rule

Question 7

Free Trade Area of the Americas (FTAA)

Answer 7

The most comprehensive free trade agreement under discussion since the early 2000s, involving 34 countries in North, Central, and South America

Question 8

Latin America

Answer 8

A term applied to all Spanish-and Portuguese-speaking nations south of the US

Question 9

Mercosur (Common Market of the South)

Answer 9

(1991) free trade within, and a common external tariff for, Argentina, Brazil, Paraguay, Uruguay, and Venezuela; accounts for 70% of South America’s total economy

Question 10

North American Free Trade Agreement (NAFTA)

Answer 10

1994. Eliminates tariffs and quota among Canada, Mexico, and the US

Question 11

Organization of American States

Answer 11

1948. Has the purpose of a Pan-American Union for closer economic, cultural, and political relations within the Americas

Question 12

Pan-American Union

Answer 12

1910. A union with the purpose of closer economic, cultural, and political relations within the Americas.

Question 13

The OAS has _____ official languages

Answer 13

4, English Spanish Portuguese and French