AGB 302 Final Review pt 5 Exam
Questions and Answers
The movement toward regional economic integration been most successful in
________. - Answer -Europe
A(n) ________ has no barriers to trade between member countries, includes a common
external trade policy, and allows factors of production to move freely between members.
- Answer -Common Market
A(n) ________ entails even closer economic integration and cooperation than a
common market. - Answer -Economic Union
Linking neighboring countries economically and making them interdependent: - Answer
-creates incentives to increase political cooperation as well.
The ________ is primarily a consultative rather than legislative body. - Answer -
European Parliament
Three long-term EU members, Great Britain, ________, and Sweden, have not adopted
the euro. - Answer -Denmark
The ________ was established to increase multinational cooperation in view of the
economic rise of the Pacific nations and the growing interdependence within the region.
- Answer -Asia-Pacific Economic Cooperation
The emerging role of the ________ in competition policy suggests the EU is
increasingly willing and able to intervene and impose conditions on companies
proposing mergers and acquisitions. - Answer -European Comission
Country X and Country Y reach an agreement to boost bilateral trade. They agree to
remove all barriers to the trade of goods and services. They, however, are free to
determine their own trade policies with regard to nonmembers. Which level of economic
integration is this an example of? - Answer -A free trade area
Which feature of a common market differentiates it from a customs union? - Answer -
Ability of factors of production to move freely between members
Questions and Answers
The movement toward regional economic integration been most successful in
________. - Answer -Europe
A(n) ________ has no barriers to trade between member countries, includes a common
external trade policy, and allows factors of production to move freely between members.
- Answer -Common Market
A(n) ________ entails even closer economic integration and cooperation than a
common market. - Answer -Economic Union
Linking neighboring countries economically and making them interdependent: - Answer
-creates incentives to increase political cooperation as well.
The ________ is primarily a consultative rather than legislative body. - Answer -
European Parliament
Three long-term EU members, Great Britain, ________, and Sweden, have not adopted
the euro. - Answer -Denmark
The ________ was established to increase multinational cooperation in view of the
economic rise of the Pacific nations and the growing interdependence within the region.
- Answer -Asia-Pacific Economic Cooperation
The emerging role of the ________ in competition policy suggests the EU is
increasingly willing and able to intervene and impose conditions on companies
proposing mergers and acquisitions. - Answer -European Comission
Country X and Country Y reach an agreement to boost bilateral trade. They agree to
remove all barriers to the trade of goods and services. They, however, are free to
determine their own trade policies with regard to nonmembers. Which level of economic
integration is this an example of? - Answer -A free trade area
Which feature of a common market differentiates it from a customs union? - Answer -
Ability of factors of production to move freely between members
