Assignment:
1. Candidates for EU membership become members after they meet certain demands. Which of the following is NOT one of those demands?
A. A functioning market economy
B. Stable institutions that guarantee democracy , rule of law, and human rights
C. Adoption of EU rules and regulations
D. Adherence to the aims of economic, monetary, and political union
E. Adopting an EU culture
2. Which of the following is NOT a trade bloc in the Americas?
A. CARICOM
B. CAN
C. EU
D. CAFTA-DR
E. MERCOSUR
3. Which of the following is NOT an area of progress for The Economic Community of West African States (ECOWAS)?
A. The free movement of people
B. Market integration
C. Development of international telecommunication links
D. Construction of international roads
E. Goal-setting
4. Which of the following is NOT a problem facing Economic Community of West African States (ECOWAS)?
A. Poor infrastructure
B. Poor governance
C. Political instability
D. Good economic policies
E. Weak national economies
5. What is the main difference between a free trade area and a customs union?
A. An economic union goes beyond the demands of a common market.
B. A common market integrates the elements of free trade areas and customs unions.
C. Countries in a customs union cannot negotiate as a single entity with other supranational organizations.
D. A political union requires member nations to accept a common stance on economic and political matters regarding nonmember nations.
E. Members of a customs union agree to treat trade with all nonmember nations in a similar manner.
6. Which of the following does NOT describe the Closer Economic Relations (CER) Agreement?
A. Professionals can practice their occupation in the other country.
B. Australia and New Zealand created a free trade agreement in 1966.
C. The CER completely eliminated tariffs and quotas between Australia and New Zealand.
D. Goods cannot be sold within the other country's borders.
E. 7 The CER advances free trade and integrates the two economies.
7. Criteria that determine whether a good meets NAFTA rules of origin do NOT include which of the following?
A. Goods using materials sourced in China
B. Goods containing non-originating inputs but meeting Annex 401 origin rules
C. Goods wholly produced or obtained in the NAFTA region
D. Unassembled goods and goods that have sufficient North American regional value content
E. Goods produced in the NAFTA region wholly from originating materials
8. which organization is NOT integrated in Asia and the Pacific Rim?
A. The Association of Southeast Asian Nations
B. The European Union
C. Gulf Cooperation Council
D. The organization for Asia Pacific Economic Cooperation
E. The Australian and New Zealand Closer Economic Relations Agreement
9. The currency of the EU is the ________.
A. peso
B. dollar
C. euro
D. yen
E. pound
10. Which of the following does NOT describe Asia Pacific Economic Cooperation (APEC)?
A. The stated aim of APEC is to build a trading bloc.
B. APEC does not want to have free trade and investment throughout the region.
C. APEC wants to simplify and harmonize customs procedures.
D. APEC has 21 members.
E. APEC wants to increase members' tariff.
11. Which of the following is NOT a fact about ASEAN that warrants consideration?
A. Corruption and shadow markets
B. Common tariffs and standards
C. Political change and turmoil
D. Diverse cultures and politics
E. Economic competition
12. A ________ is the lowest extent of national integration.
A. trade diversion
B. political union
C. regional trading bloc
D. customs union
E. free trade area
13. Which of the following is NOT an effect of NAFTA?
A. The United States exports more to Mexico.
B. NAFTA has created jobs in the United States.
C. The United States has developed a trade deficit with Canada and Mexico.
D. Mexico's exports to the United States have increased.
E. Trade among Canada, the United States, and Mexico has increased.
14. Which of the following is NOT a provision of NAFTA?
A. Liberalized rules for the granting of subsidies
B. Liberalized rules regarding government procurement practices
C. Trade in services, intellectual property rights, and standards of health, safety, and the environment
D. Elimination of tariffs in North America
E. Adding new countries to the European Union
15. Which of the following is a reason that some European countries did not join the EU?
A. They wanted all European countries to have the same culture.
B. They wanted to use the euro.
C. They don't want to increase tourism.
D. They feared destructive rivalries and loss of national sovereignty.
E. They didn't want increased trade.
16. The structure of the EU includes all of the following EXCEPT the ________.
A. European Free Trade Association (EFTA)
B. Court of Justice
C. European Parliament
D. Council of the EU
E. European Commission
17. Which 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?
A. Economic union
B. Customs union
C. Regional economic integration (regionalism)
D. Free trade area
E. Political union