Question 1

Which of the following was a component of the Treaty of Amsterdam?

Accepted Answer

A)  a strong commitment to address high unemployment in the European Union 
B)  a plan to limit the role of the European Parliament 
C)  termination of a two-track system 
D)  enforcement of GATT policies 
A)  a strong commitment to address high unemployment in the European Union 
B)  a plan to limit the role of the European Parliament 
C)  termination of a two-track system 
D)  enforcement of GATT policies

Question 2

What is the purpose of the cohesion fund in the European Union? Do you think the cohesion fund is appropriate and effective? Why or why not?

Accepted Answer

The cohesion fund provides a means of fu

Question 3

Parson's Pet Products, an Australian firm, ships many products to Canada. In order to take advantage of low trade barriers in the United States, Parson's Pet Products ships its items first to the United States and then re-exports the goods to Canada. Parson's Pet Products is most likely using ________.

Accepted Answer

A)  trade circumvention 
B)  origination manipulation 
C)  trade deflection 
D)  external circumvention 
A)  trade circumvention 
B)  origination manipulation 
C)  trade deflection 
D)  external circumvention

Question 4

What is a common market? What is the primary benefit of the common market to European firms and European workers?

Accepted Answer

A common market has all the characterist

Question 5

The Maastricht Treaty is also known as the Treaty on European Union.

Accepted Answer

A) True 
 B)False

Question 6

What is the most-favored-nation principle? What are the two exceptions to the most-favored-nation principle? Why was MFN status changed to normal trade relations (NTR) status?

Accepted Answer

The most-favored-nation principle requir

Question 7

An economic union ________.

Accepted Answer

A)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, abolish restrictions on the movement of the factors of production, and coordinate economic policies 
B)  eliminates trade barriers among member countries 
C)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production 
D)  involves the elimination of internal trade barriers among member countries and the adoption of common external trade policies toward nonmembers 
A)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, abolish restrictions on the movement of the factors of production, and coordinate economic policies 
B)  eliminates trade barriers among member countries 
C)  requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production 
D)  involves the elimination of internal trade barriers among member countries and the adoption of common external trade policies toward nonmembers

Question 8

Australia and New Zealand refuse to create a regional trading bloc because of their competition with each other.

Accepted Answer

A) True 
 B)False

Question 9

Country X wants to encourage trade by eliminating trade barriers with the three countries along its borders. However, Country X wants each of the countries to be able to establish their own trade policies even though this may lead to problems with trade deflection. Which form of economic integration is Country X most likely considering?

Accepted Answer

A)  economic union 
B)  common market 
C)  customs union 
D)  free trade area 
A)  economic union 
B)  common market 
C)  customs union 
D)  free trade area

Question 10

What are the three pillars upon which the Maastricht Treaty rests?

Accepted Answer

A new agreement to create common foreign

Question 11

How does the WTO differ from the GATT?

Accepted Answer

While the GATT agreement was incorporate

Question 12

The 12 member countries became known as the European Union when the ________ was signed in 1993.

Accepted Answer

A)  Treaty of Rome 
B)  Treaty of Geneva 
C)  Genoa Agreement 
D)  Treaty of Maastricht 
A)  Treaty of Rome 
B)  Treaty of Geneva 
C)  Genoa Agreement 
D)  Treaty of Maastricht

Question 13

Which regional trade association includes the Bahamas, Grenada, and Jamaica?

Accepted Answer

A)  ASEAN 
B)  CARICOM 
C)  ANCOM 
D)  ECOWAS 
A)  ASEAN 
B)  CARICOM 
C)  ANCOM 
D)  ECOWAS

Question 14

EU members are no longer sovereign nations.

Accepted Answer

A) True 
 B)False

Question 15

Explain the five forms of economic integration and provide an example of each.

Accepted Answer

The five forms of integration are free t

Question 16

The cumulative effect of GATT in developed countries was a ________.

Accepted Answer

A)  substantial reduction in tariffs 
B)  small increase in tariffs 
C)  substantial increase in tariffs 
D)  reduction in world trade 
A)  substantial reduction in tariffs 
B)  small increase in tariffs 
C)  substantial increase in tariffs 
D)  reduction in world trade

Question 17

What agreement triggered the establishment of the European Economic Community

Accepted Answer

A)  GATT 
B)  Treaty of Rome 
C)  WTO 
D)  Uruguay Round 
A)  GATT 
B)  Treaty of Rome 
C)  WTO 
D)  Uruguay Round

Question 18

The integration of the 13 separate colonies operating under separate Articles of Confederation into a new country, the United States of America, is an example of ________.

Accepted Answer

A)  free trade area 
B)  customs union 
C)  common market 
D)  economic union 
E)  political union 
A)  free trade area 
B)  customs union 
C)  common market 
D)  economic union 
E)  political union

Question 19

Which organization is responsible for controlling the Eurozone's money supply, interest rates, and inflation?

Accepted Answer

A)  European Central Bank 
B)  European Commission 
C)  European Parliament 
D)  European Court of Justice 
A)  European Central Bank 
B)  European Commission 
C)  European Parliament 
D)  European Court of Justice

Question 20

What was the European Commission's White Paper?

Accepted Answer

The White Paper called for acc

Which of the following was a component of the Treaty of Amsterdam?

What is the purpose of the cohesion fund in the European Union? Do you think the cohesion fund is appropriate and effective? Why or why not?

What is a common market? What is the primary benefit of the common market to European firms and European workers?

The Maastricht Treaty is also known as the Treaty on European Union.

What is the most-favored-nation principle? What are the two exceptions to the most-favored-nation principle? Why was MFN status changed to normal trade relations (NTR) status?

An economic union ________.

Australia and New Zealand refuse to create a regional trading bloc because of their competition with each other.

What are the three pillars upon which the Maastricht Treaty rests?

How does the WTO differ from the GATT?

The 12 member countries became known as the European Union when the ________ was signed in 1993.

Which regional trade association includes the Bahamas, Grenada, and Jamaica?

EU members are no longer sovereign nations.

Explain the five forms of economic integration and provide an example of each.

The cumulative effect of GATT in developed countries was a ________.

What agreement triggered the establishment of the European Economic Community

The integration of the 13 separate colonies operating under separate Articles of Confederation into a new country, the United States of America, is an example of ________.

Which organization is responsible for controlling the Eurozone's money supply, interest rates, and inflation?

What was the European Commission's White Paper?

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Marketing

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters

Exam 10: International Cooperation Among Nations

Which of the following was a component of the Treaty of Amsterdam?

What is the purpose of the cohesion fund in the European Union? Do you think the cohesion fund is appropriate and effective? Why or why not?

What is a common market? What is the primary benefit of the common market to European firms and European workers?

The Maastricht Treaty is also known as the Treaty on European Union.

What is the most-favored-nation principle? What are the two exceptions to the most-favored-nation principle? Why was MFN status changed to normal trade relations (NTR) status?

An economic union ________.

Australia and New Zealand refuse to create a regional trading bloc because of their competition with each other.

What are the three pillars upon which the Maastricht Treaty rests?

How does the WTO differ from the GATT?

The 12 member countries became known as the European Union when the ________ was signed in 1993.

Which regional trade association includes the Bahamas, Grenada, and Jamaica?

EU members are no longer sovereign nations.

Explain the five forms of economic integration and provide an example of each.

The cumulative effect of GATT in developed countries was a ________.

What agreement triggered the establishment of the European Economic Community

The integration of the 13 separate colonies operating under separate Articles of Confederation into a new country, the United States of America, is an example of ________.

Which organization is responsible for controlling the Eurozone's money supply, interest rates, and inflation?

What was the European Commission's White Paper?

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Marketing

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters