Module 13

Question 1

The primary feature of an economic union, that distinguishes it from a common market, is the adoption of a common:

Answer 1

Economic policies
Economic union is a common market, that also establish economic policies

Question 2

Promotes international trade and exchange rate stability, and assists member countries that have BOP issues

Answer 2

International Monetary fund

Question 3

Reducing global poverty is a role of the:

Answer 3

World Bank

Question 4

Resolving trade disputes is a role of the:

Answer 4

World Trade Organization

Question 5

The income of a country’s citizens working abroad is included in:

Answer 5

it’s its GNP, but not in its GDP
GDP is total value of all goods and services produced within a country

Question 6

In the balance of payments accounts, goods and financial assets that migrants bring to a country are included in the:

Answer 6

capital account

purchase of non-produced, non-financial assets (like patents)

Question 7

Imports/exports impact the:

Answer 7

Current account

Machinery