Ch. 8 International Business
goods wholly produced or obtained in the NAFTA region
Criteria that determine whether a good meets NAFTA rules of origin include which one of the following?
28
Today, the EU has ________ members.
FREE TRADE AREA
A ________ is the lowest extent of national integration.
A functioning command economy
Candidates for EU membership become members after they meet certain demands. Which one of the following is one of those demands?
euro
The currency of the EU is the ________.
Council of the EU
The structure of the EU includes which one of the following?
Members of a customs union agree to treat trade with all nonmember nations in a similar manner.
What is the main difference between a free trade area and a customs union?
a level of inflation no greater than 3.2%
Which of the following is a criterion for member nations to use the euro as outlined in the Maastricht Treaty?
European Union
Which of the following is a main regional trading bloc?
Loss of national sovereignty
Which of the following is a negative effect of regional trade agreements?
Trade creation
Which of the following is a positive effect of regional trade agreements?
Elimination of tariffs on goods originating within North America
Which of the following is a provision of NAFTA?
The United States exports more to Mexico
Which of the following is an effect of NAFTA?
ASEAN seeks to counter China's rising strength, resources of cheap labor, and abundant raw materials
Which of the following statements about ASEAN is TRUE?
APEC wants to simplify and Maronite customs procedures
Which one of the following describes Asia Pacific Economic Cooperation (APEC)?
Australia and New Zealand created a free trade agreement in 1966
Which one of the following describes the Closer Economic Relations (CER) Agreement?
Corruption and shadow markets
Which one of the following is a fact about ASEAN that warrants consideration?
Politcal Instability
Which one of the following is a problem facing Economic Community of West African States (ECOWAS)?
They feared destructive rivalries and loss of national sovereignty
Which one of the following is a reason that some European countries did not join the EU?
CAFTA-DR
Which one of the following is a trade bloc in the Americas?
Development of the international telecommunication links
Which one of the following is an area of progress for The Economic Community of West African States (ECOWAS)?
Regional economic integration (regionalism)
Which one of the following is the process whereby countries in a geographic region cooperate to reduce or eliminate barriers to the international flow of products, people, or capital?
the primary purpose was to cooperate with the EU and EFTA
Which one of the following statements about the Gulf Cooperation Council (GCC) is TRUE?
The aim of the AU is to remove vestiges of colonialism and apartheid
Which one of the following statements describes the African Union (AU)?
The organization for Asia Pacific Economic Cooperation
Which organization of Asian countries also includes the United States?