Question 1

Through various treaties (e.g,the Treaty of Rome,Maastricht Treaty,Copenhagen Treaty,Treaty of Nice,the Lisbon Treaty),the EU is deepening and strengthening its institutional linkages; it is hoped that this will enable the EU to act as one country that will effectively compete with the U.S.

Accepted Answer

A) True 
 B)False

Question 2

A(n)________ is an area in which two or more countries agree to eliminate all barriers to trade such as tariffs,quotas,and non-tariff barriers like border restrictions,while at the same time keeping their own external tariffs (within WTO guidelines)against nonmembers.

Accepted Answer

The answer of A(n)________ is an area in which two...

Question 3

Generally,countries within trading blocs that have significantly lowered trade barriers have done better economically than others.

Accepted Answer

A) True 
 B)False

Question 4

The process of allowing efficient geographic distribution of business activities within and among countries refers to _______.

Accepted Answer

spatial transformations

Question 5

Of the following,which is NOT a cost of regional integration?

Accepted Answer

A)   Moving away from most-favored-nation status rule
B)   Disregarding cultural and social differences
C)   Losing some national sovereignty
D)   Reducing the powers of the national government
E)   Enhancing the flow of capital,labor,and technologyF) A) and B)
G) C) and E)

Question 6

Venezuela became a member of MERCOSUR in July 2012 and is considered a key member because of its

Accepted Answer

A)   low tax rates and absence of tariffs.
B)   large population of educated,highly skilled workers.
C)   vast energy resources and significant domestic market.
D)   high-tech economy,the most advanced in South America.
E)   long history of political and economic stability.F) A) and E)
G) D) and E)

Question 7

Given that SGC's home country,the United States,is part of a regional integration bloc that is based on purely economic goals,benefits to these countries would include all but which one of the following?

Accepted Answer

A)   Increase the global competitiveness of each member
B)   Surrender of sovereignty of each member
C)   Provide a free trade area for the members
D)   Eliminate tariffs and non-tariff barriers to trade for the members
E)   Provide for the creation of a larger pool of consumers for the membersF) A) and C)
G) A) and B)

Question 8

Three countries,X,Y,and Z are part of a member area where they have eliminated all barriers to trade such as tariffs,quotas,and non-tariff barriers like border restrictions,while at the same time keeping their own external tariffs against nonmembers.Such an area could be described as a(n) _____ area.

Accepted Answer

A)   regional
B)   spatial
C)   open trade
D)   embargo
E)   free tradeF) B) and E)
G) C) and D)

Question 9

ASEAN,headquartered in New Delhi,India,was established in August 1967 by five founding members: India,Malaysia,the Philippines,Singapore,and Thailand.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not a free trade policy impacting Sarten Gas Company?

Accepted Answer

A)   Phased elimination of all trade barriers
B)   Protection of intellectual property
C)   Stringent immigration policies
D)   Environmental protection standards
E)   Protection of workers' rightsF) A) and D)
G) C) and E) C

Question 11

A group of free trade member countries that have adopted a common external tariff with nonmember countries refers to ______.

Accepted Answer

The answer of A group of free trade member countries...

Question 12

A group of states with convergent social,economic,and monetary policies is called a(n) _____.

Accepted Answer

A)   customs union
B)   economic union
C)   free trade area
D)   common market
E)   political unionF) C) and E)
G) A) and B)

Question 13

With the anticipated success of NAFTA,formal discussions to establish a Free Trade Area of the Americas began under the _____ administration.

Accepted Answer

A)   Obama
B)   Bush
C)   Clinton
D)   Reagan
E)   CarterF) D) and E)
G) B) and D)

Question 14

Scenario - The Lynnette Company
The Lynette Company was founded in 1982 by Solomon and Andrea Lynette.It is currently based in Jakarta,Indonesia and plans to remain in the region due to the potential for continued market growth.The company provides modern office equipment to customers throughout Southeast Asia and has watched a steady rise in need for its products.
Last year,Lynette grossed over five million dollars in sales.It anticipates gross sales to more than double this year.The Lynette Company is pleased by the ample supply of workers from the local region available to help the company.The owners realize this area of the world has the potential to become an important global market.
-The regional bloc affecting Lynette

Accepted Answer

A)   has abolished tariffs and quotas among members.
B)   uses a common currency among members.
C)   allows for the free movement of labor among members.
D)   uses a common language for trade among members.
E)   has not eliminated nontariff barriers among members.F) A) and D)
G) A) and B)

Question 15

Scenario - The Lynnette Company
The Lynette Company was founded in 1982 by Solomon and Andrea Lynette.It is currently based in Jakarta,Indonesia and plans to remain in the region due to the potential for continued market growth.The company provides modern office equipment to customers throughout Southeast Asia and has watched a steady rise in need for its products.
Last year,Lynette grossed over five million dollars in sales.It anticipates gross sales to more than double this year.The Lynette Company is pleased by the ample supply of workers from the local region available to help the company.The owners realize this area of the world has the potential to become an important global market.
-Which one of the following would most likely set guidelines for the Lynette Company to follow as it conducts its business in Southeast Asia?

Accepted Answer

A)   European Union
B)   NAFTA
C)   ASC
D)   MERCOSUR
E)   ASEANF) C) and D)
G) A) and B)

Question 16

Of the following,which is NOT a primary reason why countries are now seeking to pursue regional integration at the expense of multilateral trade liberalization?

Accepted Answer

A)   Uncertainty surrounding the Doha Round
B)   Concern that the prospect of creating a truly open global economic system that benefits all countries may recede
C)   Some governments may initiate regional pacts
D)   Some countries are clamoring for bilateral or regional trade agreements to meet their specific agendas
E)   NAFTA is pushing the EU to pursue regional integrationF) C) and D)
G) D) and E)

Question 17

​As a means to push NAFTA south of Mexico,the Bush administration began free-trade talks with all of the following countries EXCEPT

Accepted Answer

A)   ​Costa Rica.
B)   ​Honduras.
C)   ​the Dominican Republic.
D)   ​Haiti.
E)   ​Nicaragua.F) B) and C)
G) A) and B) D

Question 18

All 28 EU countries are permitted to use the euro as their currency.

Accepted Answer

A) True 
 B)False

Question 19

According to the text,which of the following is the second stage of regional integration?

Accepted Answer

A)   A customs union
B)   An economic union
C)   A free trade area
D)   A common market
E)   A political unionF) A) and D)
G) D) and E)

Question 20

What is the goal of the ASEAN Security Community (ASC) ?

Accepted Answer

A)   To ensure that countries in the region live in peace with one another
B)   To come to the aid of member nations in time of war
C)   To ensure that the ASEAN workforce is prepared to benefit from economic integration
D)   To oversee the construction of roads and railways between member nations
E)   To use the military to ensure the free flow of goods across bordersF) None of the above
G) A) and E)

Exam 3: Regional Economic Integration

Through various treaties (e.g,the Treaty of Rome,Maastricht Treaty,Copenhagen Treaty,Treaty of Nice,the Lisbon Treaty),the EU is deepening and strengthening its institutional linkages; it is hoped that this will enable the EU to act as one country that will effectively compete with the U.S.

Correct Answer
verified

A(n)________ is an area in which two or more countries agree to eliminate all barriers to trade such as tariffs,quotas,and non-tariff barriers like border restrictions,while at the same time keeping their own external tariffs (within WTO guidelines)against nonmembers.

Correct Answer
verified

Generally,countries within trading blocs that have significantly lowered trade barriers have done better economically than others.

Correct Answer
verified

The process of allowing efficient geographic distribution of business activities within and among countries refers to _______.

Correct Answer
verified
spatial transformations

Of the following,which is NOT a cost of regional integration?

Correct Answer
verified

Venezuela became a member of MERCOSUR in July 2012 and is considered a key member because of its

Correct Answer
verified

Given that SGC's home country,the United States,is part of a regional integration bloc that is based on purely economic goals,benefits to these countries would include all but which one of the following?

Correct Answer
verified

Correct Answer
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ASEAN,headquartered in New Delhi,India,was established in August 1967 by five founding members: India,Malaysia,the Philippines,Singapore,and Thailand.

Correct Answer
verified

Which of the following is not a free trade policy impacting Sarten Gas Company?

Correct Answer
verified
C

A group of free trade member countries that have adopted a common external tariff with nonmember countries refers to ______.

Correct Answer
verified

A group of states with convergent social,economic,and monetary policies is called a(n) _____.

Correct Answer
verified

With the anticipated success of NAFTA,formal discussions to establish a Free Trade Area of the Americas began under the _____ administration.

Correct Answer
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Correct Answer
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Correct Answer
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Of the following,which is NOT a primary reason why countries are now seeking to pursue regional integration at the expense of multilateral trade liberalization?

Correct Answer
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As a means to push NAFTA south of Mexico,the Bush administration began free-trade talks with all of the following countries EXCEPT

Correct Answer
verified
D

All 28 EU countries are permitted to use the euro as their currency.

Correct Answer
verified

According to the text,which of the following is the second stage of regional integration?

Correct Answer
verified

What is the goal of the ASEAN Security Community (ASC) ?

Correct Answer
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Exam 3: Regional Economic Integration

Through various treaties (e.g,the Treaty of Rome,Maastricht Treaty,Copenhagen Treaty,Treaty of Nice,the Lisbon Treaty),the EU is deepening and strengthening its institutional linkages; it is hoped that this will enable the EU to act as one country that will effectively compete with the U.S.

Correct AnswerverifiedShow Answer

A(n)________ is an area in which two or more countries agree to eliminate all barriers to trade such as tariffs,quotas,and non-tariff barriers like border restrictions,while at the same time keeping their own external tariffs (within WTO guidelines)against nonmembers.

Correct AnswerverifiedShow Answer

Generally,countries within trading blocs that have significantly lowered trade barriers have done better economically than others.

Correct AnswerverifiedShow Answer

The process of allowing efficient geographic distribution of business activities within and among countries refers to _______.

Correct Answerverifiedspatial transformations

Of the following,which is NOT a cost of regional integration?

Correct AnswerverifiedShow Answer

Venezuela became a member of MERCOSUR in July 2012 and is considered a key member because of its

Correct AnswerverifiedShow Answer

Given that SGC's home country,the United States,is part of a regional integration bloc that is based on purely economic goals,benefits to these countries would include all but which one of the following?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

ASEAN,headquartered in New Delhi,India,was established in August 1967 by five founding members: India,Malaysia,the Philippines,Singapore,and Thailand.

Correct AnswerverifiedShow Answer

Which of the following is not a free trade policy impacting Sarten Gas Company?

Correct AnswerverifiedC

A group of free trade member countries that have adopted a common external tariff with nonmember countries refers to ______.

Correct AnswerverifiedShow Answer

A group of states with convergent social,economic,and monetary policies is called a(n) _____.

Correct AnswerverifiedShow Answer

With the anticipated success of NAFTA,formal discussions to establish a Free Trade Area of the Americas began under the _____ administration.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Of the following,which is NOT a primary reason why countries are now seeking to pursue regional integration at the expense of multilateral trade liberalization?

Correct AnswerverifiedShow Answer

​As a means to push NAFTA south of Mexico,the Bush administration began free-trade talks with all of the following countries EXCEPT

Correct AnswerverifiedD

All 28 EU countries are permitted to use the euro as their currency.

Correct AnswerverifiedShow Answer

According to the text,which of the following is the second stage of regional integration?

Correct AnswerverifiedShow Answer

What is the goal of the ASEAN Security Community (ASC) ?

Correct AnswerverifiedShow Answer

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spatial transformations

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C

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Correct Answer
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As a means to push NAFTA south of Mexico,the Bush administration began free-trade talks with all of the following countries EXCEPT

Correct Answer
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D

Correct Answer
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Correct Answer
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Correct Answer
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