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INTB 200 Exam 2 #1 Questions with correct answers

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INTB 200 Exam 2 #1 Questions with correct answers

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INTB 200

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INTB 200

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INTB 200 Exam 2 #1 Questions with correct answers
What is a defining characteristic of a free trade area? - ✔✔Each country
determines its own trade policies with nonmembers.

What is a customs union? - ✔✔A free trade area plus a common external tariff.

What is a common market? - ✔✔A customs union plus free movement of labor
and capital.

What is an economic union? - ✔✔A common market plus harmonized economic
policies.

What is a political union? - ✔✔A central political apparatus coordinates all
policies.

What is trade creation? - ✔✔Shifting from high-cost domestic production to low-
cost partner production.

What is trade diversion? - ✔✔Shifting from low-cost non-member to higher-cost
member.

What does EU stand for? - ✔✔European Union.

What does USMCA stand for? - ✔✔United States-Mexico-Canada Agreement.

, What is ASEAN? - ✔✔Association of Southeast Asian Nations.

What is Mercosur? - ✔✔A South American trade bloc.

What does CAFTA-DR stand for? - ✔✔Central America-Dominican Republic Free
Trade Agreement.

What does CARICOM stand for? - ✔✔Caribbean Community.

What is the foreign exchange market? - ✔✔A global network for currency
conversion.

What is an exchange rate? - ✔✔The price of one currency in terms of another.

What is a spot exchange rate? - ✔✔The rate for immediate delivery.

What is a forward exchange rate? - ✔✔The rate for future delivery.

What is a currency swap? - ✔✔A simultaneous spot purchase and forward sale.

What is hedging? - ✔✔Insuring against foreign exchange risk.

What is foreign exchange risk? - ✔✔Adverse consequences of exchange rate
changes.

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Uploaded on: July 8, 2026
Number of pages: 8
Written in: 2025/2026
Type: Exam (elaborations)
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intb 200 exam 2 1 questions with correct answers

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INTB 200 Exam 2 #1 Questions with correct answers

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