Exam 8: Cross-National Cooperation and Agreements

A major problem with the Doha Round is that ________.

When the European Union was formed,the size of the market increased for European companies. This is most likely an example of a ________.

The ________ clause embodied the fundamental principle of GATT-trade without discrimination.

Very few commodity agreements are successful in bringing together supplier and consumer countries to stabilize commodity prices.

The ________ is the European Union's ultimate decision-making body and is composed of the different ministers of the member countries.

Which of the following members of the European Union has NOT adopted the euro?

Members of the Andean Community(CAN)have a common external tariff. CAN is most likely a ________.

Compared to the European Union,the North American Free Trade Agreement ________.

An NGO is ________.

Trade shifting to countries within a regional trade agreement at the expense of trade with countries not in the agreement is called ________.

Under NAFTA,rules of origin ensure that ________.

Many NGOs,including Africa Now,Quaker Peace and Social Witness,and Save the Children,are members of the ________.

Because the size of the market increases when trade barriers fall,companies can increase their production,which will result in lower costs per unit. This phenomenon is known as ________.

The three major responsibilities of the European Parliament are legislative power,control over the budget,and supervision of executive decisions.

Assume that U.S. companies are importing the same product from Mexico and Taiwan. The United States enters into an FTA with Mexico but not with Taiwan. Consequently,the United States begins to import more goods from Mexico (due to lower tariffs)than from Taiwan,even though the Mexican products are not any better or cheaper. This is most likely an example of ________.

GATT's contribution to trade liberalization made possible the expansion of world trade in the second half of the twentieth century.

Most trade groups contain countries in the same area of the world,even though neighboring countries usually lack a common history and interests.

The introduction of the euro has eliminated currency as a barrier to trade in all European countries.

The European Union is an example of regional integration.

NAFTA was primarily formed because the member nations have ________.