Exam 3: Regional Economic Integration

Through various treaties (e.g, the Treaty of Rome, Maastricht Treaty, Copenhagen Treaty, Treaty of Nice, the Lisbon Treaty), the EU is deepening and strengthening its institutional linkages; it is hoped that this will enable the EU to act as one country that will effectively compete with the U.S.

The regional bloc affecting Lynette

The Treaty of ______ in 1957 established the European Economic Community (EEC).

Scenario - Sarten Gas Company Established in Salt Lake City, UT in 1975, the Sarten Gas Company (SGC)has grown to be a recognized name in the industry.  Since its inception, this company has been able to withstand serious economic downturns in the economy.  It has been able to remain financially stable when many others in the industry have struggled with financial losses.  The expertise and knowledge of its leaders has led the SGC to be one of the few companies in the industry able to report continued growth. This excellent track record has inspired the owners of SGC into embracing the idea of expansion.  Sarten plans to begin trading with Canada this year and plans to include trading with Mexico within the next three years.  The leaders of Sarten Gas feel confident these new trade deals will prove successful for the company and its shareholders. Which one of the following represents a trade agreement most likely to impact the Sarten Gas Company and its proposed trading partners?  

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

In 1969, frustrated by the lack of progress in LAFTA, Bolivia, Chile, Colombia, Ecuador, and Peru joined in creating the Andean Group, which aimed to create economic integration through reduced taxes, a common external tariff, and investment in the poorer industrial areas of their respective countries.

A(n)________ is 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.