 |
| 1 | |
International economic integration is an agreement among countries in a geographic region to reduce and ultimately remove tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other. |
| | A) | True |
| | B) | False |
|
|
|
| 2 | |
Nowhere has the trend toward regional integration been more successful than in Asia. |
| | A) | True |
| | B) | False |
|
|
|
| 3 | |
A common market allows factors of productions to move freely between member countries, unlike in a customs union. |
| | A) | True |
| | B) | False |
|
|
|
| 4 | |
A political case for integration indicates countries' ability to maintain national sovereignty. |
| | A) | True |
| | B) | False |
|
|
|
| 5 | |
One benefit of the euro is that it should produce long-run gains in the economic efficiency of European companies. |
| | A) | True |
| | B) | False |
|
|
|
| 6 | |
One drawback of the euro, according to critics, is that the EU is not an optimal currency area. |
| | A) | True |
| | B) | False |
|
|
|
| 7 | |
The net effect of NAFTA on the U.S. jobs has been significantly negative. |
| | A) | True |
| | B) | False |
|
|
|
| 8 | |
Environmentalists have voiced concerns about NAFTA. |
| | A) | True |
| | B) | False |
|
|
|
| 9 | |
MERCOSUR would have more countries as trading members than FTAA. |
| | A) | True |
| | B) | False |
|
|
|
| 10 | |
CARICOM was formed as a customs union among Caribbean countries. |
| | A) | True |
| | B) | False |
|
|
|
| 11 | |
Collectively the 24 member states of APEC account for half of the world's GNP, 75 percent of world trade, and most of the growth of the world's economy. |
| | A) | True |
| | B) | False |
|
|
|
| 12 | |
Japan and China were founding members of ASEAN. |
| | A) | True |
| | B) | False |
|
|
|
| 13 | |
Currently, the most significant development in regional economic integration is occurring in the EU, NAFTA, and MERCOSUR. |
| | A) | True |
| | B) | False |
|
|
.