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