BUAD 2080 EXAM 4 QUESTIONS WITH
CORRECT ANSWERS
Which of the following treaties was signed by the members of the European
Coal and Steel Community in 1957 to create the European Economic
Community? - ANSWER the Treaty of Rome
The newly-formed countries that emerged after the break up of the United
Frontier States (UFS) are interested in learning more about integration in the
Americas. Because the former UFS nations have many similarities with the
countries of North and South America, they believe they can learn from the
integration experience in the Americas. To that end, they pose the following
questions.
The regional trade agreement between Canada, Mexico, and the United States to
eliminate tariffs and non-tariff barriers between themselves is known as the
________. - ANSWER North American Free Trade Agreement
The newly-formed countries that emerged after the break up of the United
Frontier States (UFS) are interested in learning more about integration in the
Americas. Because the former UFS nations have many similarities with the
countries of North and South America, they believe they can learn from the
integration experience in the Americas. To that end, they pose the following
questions.
The NAFTA is best considered a(n) ________. - ANSWER free trade area
Twenty-six nations of Moonland region, have decided to cooperate with one
another to eliminate trade barriers among them and create the Moonland Union.
They are not sure, however, to what extent they want to cooperate.
The regional trading bloc that Zucoland will be joining is most likely a(n)
________. - ANSWER free trade area
, Countries belonging to a ________ maintain whatever policies they see fit
against nonmember countries. - ANSWER free trade area
The common currency of the European Union is known as the ________. -
ANSWER euro
The major objective of the Association of Southeast Asian Nations (ASEAN) is
to ________. - ANSWER safeguard the region's economic and political
stability
No proposed legislation becomes EU law unless the ________ votes it into law.
- ANSWER Council of the European Union
Twenty-six nations of Moonland region, have decided to cooperate with one
another to eliminate trade barriers among them and create the Moonland Union.
They are not sure, however, to what extent they want to cooperate.
If all countries in the bloc are asked to give up the greatest amount of
sovereignty, they would most likely be joining a(n) ________ - ANSWER
political union
Which of the following is a potential drawback of regional economic
integration? - ANSWER trade diversion
Which of the following is an important goal of regional economic integration? -
ANSWER to raise the living standards of people
Twenty-six nations of Moonland region, have decided to cooperate with one
another to eliminate trade barriers among them and create the Moonland Union.
They are not sure, however, to what extent they want to cooperate.
Country M wants member nations to harmonize their tax, monetary, and fiscal
policies and wants to create a common currency. Country M is requesting for
the creation of a(n) ________ in the Moonland nations. - ANSWER economic
union
CORRECT ANSWERS
Which of the following treaties was signed by the members of the European
Coal and Steel Community in 1957 to create the European Economic
Community? - ANSWER the Treaty of Rome
The newly-formed countries that emerged after the break up of the United
Frontier States (UFS) are interested in learning more about integration in the
Americas. Because the former UFS nations have many similarities with the
countries of North and South America, they believe they can learn from the
integration experience in the Americas. To that end, they pose the following
questions.
The regional trade agreement between Canada, Mexico, and the United States to
eliminate tariffs and non-tariff barriers between themselves is known as the
________. - ANSWER North American Free Trade Agreement
The newly-formed countries that emerged after the break up of the United
Frontier States (UFS) are interested in learning more about integration in the
Americas. Because the former UFS nations have many similarities with the
countries of North and South America, they believe they can learn from the
integration experience in the Americas. To that end, they pose the following
questions.
The NAFTA is best considered a(n) ________. - ANSWER free trade area
Twenty-six nations of Moonland region, have decided to cooperate with one
another to eliminate trade barriers among them and create the Moonland Union.
They are not sure, however, to what extent they want to cooperate.
The regional trading bloc that Zucoland will be joining is most likely a(n)
________. - ANSWER free trade area
, Countries belonging to a ________ maintain whatever policies they see fit
against nonmember countries. - ANSWER free trade area
The common currency of the European Union is known as the ________. -
ANSWER euro
The major objective of the Association of Southeast Asian Nations (ASEAN) is
to ________. - ANSWER safeguard the region's economic and political
stability
No proposed legislation becomes EU law unless the ________ votes it into law.
- ANSWER Council of the European Union
Twenty-six nations of Moonland region, have decided to cooperate with one
another to eliminate trade barriers among them and create the Moonland Union.
They are not sure, however, to what extent they want to cooperate.
If all countries in the bloc are asked to give up the greatest amount of
sovereignty, they would most likely be joining a(n) ________ - ANSWER
political union
Which of the following is a potential drawback of regional economic
integration? - ANSWER trade diversion
Which of the following is an important goal of regional economic integration? -
ANSWER to raise the living standards of people
Twenty-six nations of Moonland region, have decided to cooperate with one
another to eliminate trade barriers among them and create the Moonland Union.
They are not sure, however, to what extent they want to cooperate.
Country M wants member nations to harmonize their tax, monetary, and fiscal
policies and wants to create a common currency. Country M is requesting for
the creation of a(n) ________ in the Moonland nations. - ANSWER economic
union
