Exam 10: International Cooperation Among Nations

In a(n) ________, members eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production.

The ________ promotes free trade among Bolivia, Chile, Colombia, Ecuador, and Peru.

The individuals appointed to the European Commission serve the European Union, not their individual country.

English is the EU's official language.

Natalie is employed by the governing organization of the European Union that is responsible for proposing legislation, administering the EU's permanent bureaucracy, and implementing the provisions of the Treaty of Rome. Natalie most likely works for the ________.

What are the four organizations that govern the European Union?

The GATT is an agreement, not an organization.

One important component of the Maastricht Treaty was the establishment of economic and monetary union among EU members.

What is a customs union? Provide an example of a customs union.

Which round created the WTO?

One weakness of the WTO is that the enforcement of the GATT was stronger.

In decisions made by the Council of the European Union, every country has an equal vote.

Which of the following is a member of the European Union?

The EU's "one size fits all" monetary policy has been hailed as a success because it treats all countries equally.

In the last decade, there has been a decrease in the number of trading blocs.

GATT is an acronym for ________.

Mexico is the United States' largest trading partner.

The primary goal of the ________ was to promote a free and competitive international trading environment.

Which of the following is not an organization that governs the European Union?

What is the purpose of the Stability and Growth Pact? Why has the pact been criticized?