MAN 4602 Chapter 7
A group involved in trade and commodities for developing countries within the United Nations (UN) is which one of the following?
United Nations Conference on Trade and Development (UNCTAD)
Which of the following is the best defense of the World Trade Organization (WTO)?
WTO enforces trade agreements
The major body of reciprocal trade negotiations and enforcer of trade agreements is known as which of the following?
World Trade Organization
In which year was The UN was established?
1945
APEC (Asia Pacific Economic Cooperation) comprises the following.
21 Countries that border the Pacific Rim
Which of the following best exemplifies a free trade agreement?
All members within NAFTA can trade without internal tariffs.
A developing country enters into an agreement with a developed country that opens up trade between the two. What type of integration does this scenario demonstrate?
Bilateral Integration
Which of the following is a major challenge to NAFTA?
Illegal immigration
Adding free mobility of factors of production to a customs union is known as which of the following?
Common Market
The Euro is NOT which of the following
Currency mainly used by Sweden
Which of the following is the term used to describe the political and monetary agreements among nations and world regions in which preference is given to member countries?
Economics integration
Companies are able to produce more cheaply and therefore become more efficient. Which of one of the following effects does this scenario demonstrated?
Economies of scale
When the average cost per unit falls as the number of units produced rises, it is known as which of the following?
Economies of scale
The Single European Act and the Lisbon Treaty were NOT designed to eliminate which one of the following?
Educational Systems
Which one of the following is NOT one of the EU's governing bodies?
European Leadership Committee
Which of the following is an African Union (AU) characteristic?
Focuses on political issues in Africa
A regional trade group decides to eliminate internal tariffs. This scenario demonstrates which of the following types of regional trade agreements?
Free Trade Agreement
Multinational enterprises (MNEs) in Europe attempt to grow through means of mergers and acquisitions to achieve the size needed to compete in larger markets. This illustrates an effect of which of the following?
Free Trade Agreement (FTA)
Trade creation is characterized by which one of the following?
Goods and services exchange is promoted by industry associations
The major trade group in South America, which includes Brazil, Argentina, Paraguay, and Uruguay, is known as which of the following?
MERCOSUR
An agreement was formed to allow free trade in goods, services, and investment among the United States, Canada, and Mexico. This describes which of the following regional economic integration groups?
NAFTA
Which of the following CANNOT be argued to be a regional integration group?
OPEC
Which of the following services does the European Commission NOT provide?
Organize common defense
Which of the following is the best defense for regional economic integration?
Provides free trade agreements for a specific region
The European Free Trade Association (EFTA) is composed of which group of the following countries
Iceland, Liechtenstein, Norway, and Switzerland
