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Exam 3: Regional Economic Integration

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Question 31

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Of the following statements about regional blocs close to major world markets, which is NOT true?

A) The ASEAN is intensifying its free trade relations with the huge markets in China.
B) India, Japan, and South Korea play an important role in the SAARC.
C) Access to markets is essential for economic growth.
D) The oil-rich regional economy of the Middle East and North Africa has been growing fast and creating jobs for its population.
E) Countries close to major markets have the advantage of connecting to suppliers and ideas.

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Question 32

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The appropriate approach for countries interested in regional integration could include the following three fundamentals: start small, think global, and compensate the least fortunate.

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Question 33

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Three countries, X, Y, and Z are part of a member area where they have eliminated all barriers to trade such as tariffs, quotas, and non-tariff barriers like border restrictions, while at the same time keeping their own external tariffs against nonmembers. Such an area could be described as a(n) _____ area.

A growing ASEAN concern is the economic ascendancy of Turkey, which as a major low-cost manufacturing center, has been one of the world's most attractive destinations for foreign direct investment.

Common external tariffs and quota system is part of all of the stages of regional integration EXCEPT which one?

A market formed when members of a common market agree to implement common social programs and coordinated macroeconomic policies that would lead to the creation of a single regional currency and a regional apex central bank is known as a(n) _____.

The process of allowing efficient geographic distribution of business activities within and among countries refers to _______.

Through various treaties such as the Maastricht Treaty, the Copenhagen Treaty, the Treaty of Nice, and the Lisbon Treaty, the EU is deepening and strengthening its institutional (economic, political, social, and defense)linkages; this will hopefully, enable the EU to act as one country that will effectively compete with the U.S.

The study of principles that govern the efficient spatial allocation of economic resources and the resulting consequences refers to _____.

According to the text, which of the following is NOT a regional bloc close to world markets?

In which country is ASEAN headquartered?

Although market access is essential for economic growth, proximity to major world markets is the biggest liability for just-in-time production, exports of perishable goods and tradable services.

How does ASEAN differ from the EU?

ASEAN, headquartered in New Delhi, India, was established in August 1967 by five founding members: India, Malaysia, the Philippines, Singapore, and Thailand.

In which country is the EU headquartered?

A market formed when member countries of a customs union remove all barriers to allow the movement of capital and labor within the customs union refers to _______.

Which of the following is NOT an objective of NAFTA?

With the anticipated success of NAFTA, formal discussions to establish a Free Trade Area of the Americas began under the _____ administration.

According to the text, which of the following is NOT a stage of regional integration?

According to the Cultural Perspective box in Chapter 03, when French President, Nicolas Sarkozy, assumed his six-month European Union presidency in July 2008, the first initiative he launched was the Union for the _____.