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Exam 3: Regional Economic Integration

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Question 21

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How does ASEAN differ from the EU?

A) It does not call for the free movement of labor across member states.
B) It maintains both tariff and non-tariff barriers among member states.
C) It calls for the establishment of a single market.
D) It calls for the establishment of a production base.
E) It refuses to do business with non-member states.

F) D) and E)
G) A) and C)

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Question 22

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The members of the Maghreb Union

A) all have similar political and economic systems.
B) hope to form an economic and political union in North Africa.
C) all suffer under enormous amounts of debt.
D) are losing their competitiveness against EU countries.
E) have been unable to attract much foreign investment.

F) A) and E)
G) D) and E)

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Question 23

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The union created when member countries of an economic and monetary union work closely with one another to arrive at common defense and foreign policies and behave as a single country is known as a(n) _____.

Investments in basic and higher education are made through the ASEAN ______ community.

The Treaty of Montevideo created _____.

The Lynette Company's plan to continue its operations within the Asia market offers many benefits as well as challenges.Which one of the following would provide the least degree of challenge for the stability of this company's business operations?

A growing ASEAN concern is the economic ascendancy of Turkey,which as a major low-cost manufacturing center,has been one of the world's most attractive destinations for foreign direct investment.

Implementation of a multitude of economic and/or political steps by member states to increase their global competitiveness,including preferential trade access refers to _______.

ASEAN has two main objectives: 1) to accelerate economic growth,social progress,and cultural development in the region; and 2) _____.

One could argue that regional and global integration are not complements,but substitutes to economic development of a particular region.

NAFTA is a free-trade agreement among Canada,the United States,and _____.

In which country is ASEAN headquartered?

The World Bank's World Development Report (WDR),titled "Reshaping Economic Geography," analyzes trade and regional economic integration through the lens of economic geography (i.e.,market size,location,and openness to trade).The WDR concludes that positive changes within these three categories are essential for successful regional integration.

The origins of the European Union (EU)can be traced to the creation of the North Atlantic Treaty Organization (NATO)in 1949.

The appropriate approach for countries interested in regional integration could include the following three fundamentals: start small,think global,and compensate the least fortunate.

The World Bank's (2009) World Development Report concludes that successful regional integration depends on positive changes within

_____ refers to the process of allowing efficient geographic distribution of business activities within and among countries.

Which of the following is NOT an objective of NAFTA?

According to the text,which of the following is NOT a regional bloc close to world markets?

All of the following statements about the EU are true EXCEPT: