Chapter 9 Quiz
E
All of the following are traits of big emerging markets (BEMs) EXCEPT: A. they are of major political importance within their regions B. they are all physically large C. they have significant populations D. they are regional economic drivers E. they import less than smaller markets
E
CARICOM established the CSME (CARICOM Single Market and Economy) with the major goal of: A. forming a political union B. establishing central institutions similar to those of the European union institutions C. implementing uniform customs procedures D. increasing non tariff barriers E. implementing a common currency for all member nations
E
Chile, Brazil, Mexico, South Korea, Singapore, and Taiwan are examples of ________ countries. A. underdeveloped B. closed economy C. least developed D. third world E. newly industrialized
E
NAFTA differs from Mercosur in that NAFTA: A. aims to establish a common currency for its latin american members B. includes Argentina, Bolivia, Brazil, Chile, Paraguay, and Uruguay C. was provided legal basis by the treaty of asuncion D. is the second largest common market agreement in the americans after mercosur E. aims to address and improve all aspects of doing business within north america
C
One of the most important aspects of LAIA that differs from LAFTA, its predecessor, is: A. the inclusion of rules of origin B. the introduction of a common currency for the member countries C. the differential treatment of member countries according to their level of economic development D. that members are forbidden from establishing bilateral trade agreements among member countries E. the exclusion of tariff barrier
A
The United Nations' classification of stages of economic development has been mainly criticized because: A. it no longer seems relevant in the rapidly industrializing world B. countries classified as LLDCs are growing at a very rapid rate C. countries that are classified as LDCs are industrializing at a slow rate D. it no longer takes into account social overhead capital as an indicator of economic development E. it only focuses on the literacy level in a country
C
The success of the Caribbean Free Trade Association led to the creation of the ________. A. union of south american nations B. central american integration system C. caribbean community and common market D. united nations economic commission for latin america and the carribbean E. community of latin american and caribbean states
C
Which of the following accounts for the lion's share of Mercosur exports to Europe? A. consumer durables B. clothing and apparel C. agricultural and agro industrial products D. telecommunication equipment E. petroleum and minerals
B
Which of the following countries has been identified by the Department of Commerce as a BEM (big emerging market)? A. egypt B. mexico C.venezuela D. philippines E. nicaragua
A
Which of the following countries is a member of the free trade agreement DR-CAFFTA? A. costa rica B. bahrain C. morocco D. oman E. bhutan
E
Which of the following is NOT one of the factors directly changing the way countries trade and prosper in the twenty-first century? A. liberalization of trade and investment policies in developing countries B. the rapid development of regional market alliances C. the transfer of public sector enterprises to the private sector D. the transition from socialist to market driven economies E. the increase in military capabilities of countries around the world
B
Which of the following is true of state ownership? A. privatization of state owned enterprises blocked the release of immediate capital to invest in strategic areas B. state ownership has resulted in complicated and unpredictable regulatory environments C. privatization of state owned enterprises continually drained the future national resources D. state ownership is the most ideal engine for economic growth E. State ownership has consistently resulted in the inclusion of foreign and domestic private ownership, and the formation of efficient public companies
A
Which of the following key provisions of NAFTA restricts Japan from assembling autos in Mexico and avoiding U.S. or Canadian tariffs and quotas, unless the auto had a specific percentage of Mexican (i.e., North American) content? A. rules of origin B. uniform customs procedures C. services D. government procurement E. standards
A
Which of the following kinds of market sectors is also known as the "new middle class"? A. the modern sector B. the traditional sector C. the transitional sector D. the agricultural sector E. the rural services sector
C
________ required the United States, Canada, and Mexico to remove all tariffs and trade barriers over 15 years, and beginning in 2008, all tariff barriers were officially dropped. A. DR-CFTA B. LAIA C. NAFTA D. mercosur E. CARICOM
