Exam 4: Regional Economic and Political Integration

________________________________________ was established to mitigate the economic block and trade protection trend prevailing in the 1970's and 1980's. It was established in 1989 at a ministerial meeting in Canberra, Australia.

The former colonies of the ____________________ Empire form the Commonwealth of Nations.

The North American Free Trade Agreement (NAFTA) is an ambitious plan to create a market of about 800 million people and an annual production worth $11 trillion in the Americas.

The Andean Common Market and the Southern Cone Common Market aspire to become a common market.

The countries of the former Soviet Union have experienced Russian economic, political, and cultural dominance. As a result, Russian is spoken in many countries in Europe and Asia that were formerly part of the Soviet Empire.

The focus of the EU is eastern expansion and the constraints they are faced with are:

A monetary union represents the highest level of integration between countries.

Countries with a different level of economic development are more likely to be successful in establishing and maintaining regional economic integration mechanisms than countries of similar levels of economic development because the more powerful country acts as a "benevolent dictator."

The Latin American Integration Association does not offer a differential treatment to countries of different levels of development in an attempt to standardize its polices.

Former colonies of the British Empire form the Commonwealth of Independent States, a body that meets periodically to address issues of common concern and that recognizes the British monarchy as its symbolic leader.

In spite of the national vote against joining the European Union, Switzerland is engaging in bilateral negotiations, securing agreements that would help it to join.

The European Commission blocked ______________________________'s $42 billion takeover of Honeywell International, due to the danger that the company could use Honeywell's strength in avionics equipment to expand its competitive strength in aircraft engines.

Estonia, Lithuania, Latvia, the Ukraine, and Turkmenistan use ____________________ as a second language.

______________________________ represents the highest level of integration; it assumes a viable economic integration and it involves the establishing of viable common governing bodies, legislative bodies, and enforcement powers.

Why did the Latin American Free Trade Association (LAFTA) fail?

The ___________________________________ is an ambitious plan to create a market of about 800 million people and an annual production worth $11 trillion in the Americas.

How do economic considerations affect economic integration?

Which country is not a member of the Latin American Integration Association?

The Andean Common Market (AnCom) was responsible for eliminating trade restrictions (tariff and nontariff) within the Andean region.

The European Union is characterized by a shared regional culture.