Question 1

All of the following statements about the EU are true EXCEPT:

Accepted Answer

A)  it is headquartered in Brussels. 
B)  it is the most highly evolved example of regional integration in the world. 
C)  its founding members consisted of ten countries. 
D)  its origins can be traced to the creation of the European Coal and Steel Community. 
E)  its eastward enlargement reflects a common past. 
A)  it is headquartered in Brussels. 
B)  it is the most highly evolved example of regional integration in the world. 
C)  its founding members consisted of ten countries. 
D)  its origins can be traced to the creation of the European Coal and Steel Community. 
E)  its eastward enlargement reflects a common past.

Question 2

Scenario - The Lynnette Company
The Lynette Company was founded in 1982 by Solomon and Andrea Lynette. It is currently based in Jakarta, Indonesia and plans to remain in the region due to the potential for continued market growth. The company provides modern office equipment to customers throughout Southeast Asia and has watched a steady rise in need for its products.
Last year, Lynette grossed over five million dollars in sales. It anticipates gross sales to more than double this year. The Lynette Company is pleased by the ample supply of workers from the local region available to help the company. The owners realize this area of the world has the potential to become an important global market.
-Which one of the following is not considered a main objective of the regional bloc affecting Lynette?

Accepted Answer

A)  To accelerate economic growth 
B)  To increase cultural development in the region 
C)  To encourage regional peace 
D)  To diminish relationships with major powers 
E)  To promote stability through the rule of law 
A)  To accelerate economic growth 
B)  To increase cultural development in the region 
C)  To encourage regional peace 
D)  To diminish relationships with major powers 
E)  To promote stability through the rule of law

Question 3

Describe briefly the form and stages of regional integration.

Accepted Answer

Regional integration refers to the proce

Question 4

Of the following, which is NOT true about the future of ASEAN?

Accepted Answer

A)  ASEAN's Vision 2020 calls for aggressive outward-looking economic policies. 
B)  Several bilateral Free Trade Agreements are currently being implemented. 
C)  A growing ASEAN concern is the economic ascendancy of North Korea. 
D)  The ASEAN-Japan Comprehension Economic Partnership agreement covers trade in goods, services, and investment and economic cooperation. 
E)  The ASEAN Australian-New Zealand FTA was signed in February 2009. 
A)  ASEAN's Vision 2020 calls for aggressive outward-looking economic policies. 
B)  Several bilateral Free Trade Agreements are currently being implemented. 
C)  A growing ASEAN concern is the economic ascendancy of North Korea. 
D)  The ASEAN-Japan Comprehension Economic Partnership agreement covers trade in goods, services, and investment and economic cooperation. 
E)  The ASEAN Australian-New Zealand FTA was signed in February 2009.

Question 5

Abolition of restriction on factor movements is part of which stages of regional integration?

Accepted Answer

A)  A customs union and an economic union 
B)  An economic union and a free trade area 
C)  A free trade area and a customs union 
D)  A common market and an economic union 
E)  A common market and a customs union 
A)  A customs union and an economic union 
B)  An economic union and a free trade area 
C)  A free trade area and a customs union 
D)  A common market and an economic union 
E)  A common market and a customs union

Question 6

According to the text, which of the following is the third stage of regional integration?

Accepted Answer

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

Question 7

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 of the following is not a free trade policy impacting Sarten Gas Company?

Accepted Answer

A)  Phased elimination of all trade barriers 
B)  Protection of intellectual property 
C)  Stringent immigration policies 
D)  Environmental protection standards 
E)  Protection of workers' rights 
A)  Phased elimination of all trade barriers 
B)  Protection of intellectual property 
C)  Stringent immigration policies 
D)  Environmental protection standards 
E)  Protection of workers' rights

Question 8

Of the following, which is NOT a primary reason why countries are now seeking to pursue regional integration at the expense of multilateral trade liberalization?

Accepted Answer

A)  Uncertainty surrounding the Doha Round 
B)  Concern that the prospect of creating a truly open global economic system that benefits all countries may recede 
C)  Some governments may initiate regional pacts 
D)  Some countries are clamoring for bilateral or regional trade agreements to meet their specific agendas 
E)  NAFTA is pushing the EU to pursue regional integration 
A)  Uncertainty surrounding the Doha Round 
B)  Concern that the prospect of creating a truly open global economic system that benefits all countries may recede 
C)  Some governments may initiate regional pacts 
D)  Some countries are clamoring for bilateral or regional trade agreements to meet their specific agendas 
E)  NAFTA is pushing the EU to pursue regional integration

Question 9

Both free-trade areas and customs unions include abolition of restrictions on factor movements.

Accepted Answer

A) True 
 B)False

All of the following statements about the EU are true EXCEPT:

Describe briefly the form and stages of regional integration.

Of the following, which is NOT true about the future of ASEAN?

Abolition of restriction on factor movements is part of which stages of regional integration?

According to the text, which of the following is the third stage of regional integration?

Of the following, which is NOT a primary reason why countries are now seeking to pursue regional integration at the expense of multilateral trade liberalization?

Both free-trade areas and customs unions include abolition of restrictions on factor movements.

The Rise of Globalization

The Evolution of International Business

The International Flow of Funds and Exchange Rates

The Cultural Environment

The Legal and Political Environment of Global Business

Corruption and Ethics in Global Business

Entry Strategies in Global Business

Control of Global Business

The Organization of Global Business

Global Human Resource Management

Global Marketing

Global Operations and Supply-Chain Management

Global Financial Management

Accounting and Taxation in Global Business

Filters

Exam 3: Regional Economic Integration

All of the following statements about the EU are true EXCEPT:

Describe briefly the form and stages of regional integration.

Of the following, which is NOT true about the future of ASEAN?

Abolition of restriction on factor movements is part of which stages of regional integration?

According to the text, which of the following is the third stage of regional integration?

Of the following, which is NOT a primary reason why countries are now seeking to pursue regional integration at the expense of multilateral trade liberalization?

Both free-trade areas and customs unions include abolition of restrictions on factor movements.

The Rise of Globalization

The Evolution of International Business

The International Flow of Funds and Exchange Rates

The Cultural Environment

The Legal and Political Environment of Global Business

Corruption and Ethics in Global Business

Entry Strategies in Global Business

Control of Global Business

The Organization of Global Business

Global Human Resource Management

Global Marketing

Global Operations and Supply-Chain Management

Global Financial Management

Accounting and Taxation in Global Business

Filters