global chapter 3
Which of the following helps to explain why the Andean Community has not yielded more economic benefits? A. Competing political ideologies B. Language barriers C. Diverse GDPs D. Disproportionate population growth E. Dissimilar geography
A. Competing political ideologies
Which of the following is the name for the economic and monetary union that includes a European central bank and a single European currency? A. Euro Zone B. European Commission C. European Union D. Maastricht Treaty E. Eurasian Economic Union
A. Euro Zone
Which of the following is the KEY regional organization in the Middle East? A. The Gulf Cooperation Council (GCC) B. The Arab Cooperation Council (ACC) C. The Middle East Trade Union (METU) D. The Arab League (AL) E. The Arab Maghreb Union (AMU)
A. The Gulf Cooperation Council (GCC)
The European Union is headquartered in which of the following cities? A. Luxembourg B. Brussels C. Copenhagen D. London E. Paris
B. Brussels
A(n) ________ seeks to coordinate and harmonize economic and social policies to facilitate the free flow of capital, labor, and goods and services from country to country. A. Free trade area B. Economic union C. Common market D. Consumer trade organization E. Customs union
B. Economic union
Which of the following terms is used to express the idea that content and other product standards that varied among nations have been brought into alignment. A. Synchronization B. Harmonization C. Coordination D. Transparency E. Simplicity
B. Harmonization
The acronym for the Central American Integration System is ________. A. CAIS B. SICA C. IS D. CNAIS E. ICA
B. SICA
CARICOM members are from which geographical region? A. Central America B. The Caribbean C. Eastern Europe D. Southern Europe E. Southeast Asia
B. The Caribbean
________ is Mercosur's number one trading partner. A. India B. The European Union C. China D. The United States E. The Andean Community
B. The European Union
Which of the following organizations is striving to speak "as one voice" regarding political turmoil in the Middle East? A. The ACC B. The GCC C. The AMU D. The EU E. APEC
B. The GCC
A preferential trade agreement (PTA) is ________. A. an organization that provides a forum for trade-related negotiations among its 160 members B. a mechanism that confers special treatment on select trading partners C. a group that mediates complaints concerning unfair trade barriers D. a treaty among nations whose governments agreed to promote trade among members E. the coming together of varying standards and regulations
B. a mechanism that confers special treatment on select trading partners
Which of the following is the number one trading partner of the United States? A. Japan B. Mexico C. Canada D. China E. Germany
C. Canada
DR-CAFTA includes which SICA members? A. Guatemala, El Salvador, Mexico, Peru, and Panama B. Mexico, Costa Rica, Colombia, Bolivia, and Nicaragua C. El Salvador, Honduras, Guatemala, Nicaragua, and Costa Rica D. Panama, El Salvador, Guatemala, Dominican Republic, and Mexico E. Bolivia, Peru, Panama, Honduras, and Guatemala
C. El Salvador, Honduras, Guatemala, Nicaragua, and Costa Rica
What is formed when two or more countries agree to eliminate tariffs and other barriers that restrict trade? A. European Union B. World Trade Organization C. Free trade area D. Customs union E. Common market
C. Free trade area
NAFTA includes which three countries? A. Mexico, Columbia, and Venezuela B. United States, Canada, and Russia C. United States, Canada, and Mexico D. Canada, Russia, and Greenland E. United States, Mexico, and Cuba
C. United States, Canada, and Mexico
The signing of the Maastricht Treaty set the stage for the creation of ________. A. the European common market B. the European commission C. the European Central Bank and the euro currency D. common external tariffs E. Mercosur
C. the European Central Bank and the euro currency
Which of the following is a common marketplace not only for goods but also for services and capital? A. Harmonizations B. Common market C. Customs union D. Economic union E. Free trade area
D. Economic union
Which three countries were informally added to the ASEAN roster, causing some to call it ASEAN + 3? A. Cambodia, Japan, and India B. Japan, China, and India C. Cambodia, Laos, and Korea D. Japan, China, and Korea E. China, Korea, and India
D. Japan, China, and Korea
In October 2011, the U.S. Congress finally ratified long-delayed FTAs with which of the following countries? A. South Korea, Japan, and Taiwan B. Norway, United Kingdom, and Iceland C. Canada, Mexico, and Brazil D. South Korea, Colombia, and Panama E. Colombia, Mexico, and Venezuela
D. South Korea, Colombia, and Panama
Which of the following is the most significant challenge to a fully integrated ASEAN economic community? A. Geographically separated members B. Resentment of China's "flood" of low-cost imports into member nations C. Varying political systems of the member nations D. Historical conflicts between member nations E. ASEAN member-nations representing widely varying stages of development
E. ASEAN member-nations representing widely varying stages of development
Which of the following organizations constitutes the world's largest economy? A. WTO B. DR-CAFTA C. ASEAN D. NAFTA E. EU
E. EU
North Africa and the Middle East are viewed as a region known as ________. A. ECOWAS B. SADC C. NAFTA D. OPEC E. Mena
E. Mena
Which of the following best describes the function of World Trade Organization (WTO)? A. Establish special treatment agreements between trade partners. B. Eliminate any quota systems. C. Eliminate tariffs and other barriers to trade. D. Create the European Union. E. Provide a forum for trade-related negotiations.
E. Provide a forum for trade-related negotiations.
Which nation was the first Communist nation to join ASEAN? A. Indonesia B. Thailand C. Burma D. Singapore E. Vietnam
E. Vietnam
Which organization provides a forum for trade-related negotiations among its members? A. European Union B. Common Market C. Transatlantic Trade and Investment Partnership D. General Agreement on Tariffs and Trade E. World Trade Organization
E. World Trade Organization