Ch. 8 International Business

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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?


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