Question 1

The GATT system is an example of a strictly bilateral trading system.

Accepted Answer

A) True 
 B)False

Question 2

All WTO members are obliged to follow WTO rulings on settlement disputes as law.

Accepted Answer

A) True 
 B)False

Question 3

NAFTA is an example of a(n)_____.

Accepted Answer

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

Question 4

European Economic Community is the official title of European economic integration since 1993.

Accepted Answer

A) True 
 B)False

Question 5

_____ refers to the official title for regional economic integration involving 21 member economies around the Pacific.

Accepted Answer

A)  UNASUR 
B)  APEC 
C)  NAFTA 
D)  CAFTA 
A)  UNASUR 
B)  APEC 
C)  NAFTA 
D)  CAFTA

Question 6

Regional integration deals in Africa show the least amount of protectionism in international trade.

Accepted Answer

A) True 
 B)False

Question 7

The GATT differed from the WTO in that the GATT was not considered an organization.

Accepted Answer

A) True 
 B)False

Question 8

Passport-free travel zones can only be setup in political unions.

Accepted Answer

A) True 
 B)False

Question 9

The _____ is a free trade agreement among Canada,the United States,and Mexico.

Accepted Answer

A)  Andean Community 
B)  ASEAN 
C)  NAFTA 
D)  Commonwealth of Independent States 
A)  Andean Community 
B)  ASEAN 
C)  NAFTA 
D)  Commonwealth of Independent States

Question 10

The WTO differs from "GATT 1948" in that the WTO _____.

Accepted Answer

A)  has trade in services as its primary trade focus 
B)  has provisions that allows members to review other members' trade policies 
C)  has no rules governing intellectual property rights 
D)  has no mechanism to settle member disputes 
A)  has trade in services as its primary trade focus 
B)  has provisions that allows members to review other members' trade policies 
C)  has no rules governing intellectual property rights 
D)  has no mechanism to settle member disputes

Question 11

All the countries of Europe are part of the European Union (EU).

Accepted Answer

A) True 
 B)False

Question 12

Which of the following agreements was in direct violation of the principles of GATT?

Accepted Answer

A)  Trade policy review 
B)  Multifibre Arrangement 
C)  General Agreement on Trade in Services 
D)  Trade-Related Aspects of Intellectual Property Rights 
A)  Trade policy review 
B)  Multifibre Arrangement 
C)  General Agreement on Trade in Services 
D)  Trade-Related Aspects of Intellectual Property Rights

Question 13

Which of the following is a WTO agreement regulating intellectual property?

Accepted Answer

A)  GATT 
B)  GATS 
C)  MFA 
D)  TRIPS 
A)  GATT 
B)  GATS 
C)  MFA 
D)  TRIPS

Question 14

Explain the formation of APEC.

Accepted Answer

Founded in 1967,the Association of South

Question 15

The crucial principle of GATT/WTO is nondiscrimination,ensuring that countries do not discriminate among its trading partners.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following South American countries pulled out of the Andean Community and joined Mercosur in 2006?

Accepted Answer

A)  Uruguay 
B)  Peru 
C)  Colombia 
D)  Venezuela 
A)  Uruguay 
B)  Peru 
C)  Colombia 
D)  Venezuela

Question 17

The Andean Community's largest trading partner is the United States.

Accepted Answer

A) True 
 B)False

Question 18

Britain,Denmark,and Sweden are the only three countries which did not join the EU.

Accepted Answer

A) True 
 B)False

Question 19

The Euro is currently used in _____.

Accepted Answer

A)  all EU member countries 
B)  all European countries 
C)  17 EU countries 
D)  Schengen countries only 
A)  all EU member countries 
B)  all European countries 
C)  17 EU countries 
D)  Schengen countries only

Question 20

The refusal of Japan,the EU,and the US to reduce farm subsidies was one of the reasons for the collapse of the Doha Round.

Accepted Answer

A) True 
 B)False

The GATT system is an example of a strictly bilateral trading system.

All WTO members are obliged to follow WTO rulings on settlement disputes as law.

NAFTA is an example of a(n)_____.

European Economic Community is the official title of European economic integration since 1993.

_____ refers to the official title for regional economic integration involving 21 member economies around the Pacific.

Regional integration deals in Africa show the least amount of protectionism in international trade.

The GATT differed from the WTO in that the GATT was not considered an organization.

Passport-free travel zones can only be setup in political unions.

The _____ is a free trade agreement among Canada,the United States,and Mexico.

The WTO differs from "GATT 1948" in that the WTO _____.

All the countries of Europe are part of the European Union (EU).

Which of the following agreements was in direct violation of the principles of GATT?

Which of the following is a WTO agreement regulating intellectual property?

Explain the formation of APEC.

The crucial principle of GATT/WTO is nondiscrimination,ensuring that countries do not discriminate among its trading partners.

Which of the following South American countries pulled out of the Andean Community and joined Mercosur in 2006?

The Andean Community's largest trading partner is the United States.

Britain,Denmark,and Sweden are the only three countries which did not join the EU.

The Euro is currently used in _____.

The refusal of Japan,the EU,and the US to reduce farm subsidies was one of the reasons for the collapse of the Doha Round.

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing with Foreign Exchange

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing,Structuring,and Learning around the World

Competing on Marketing and Supply Chain Management

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

Filters

Exam 8: Capitalizing on Global and Regional Integration

The GATT system is an example of a strictly bilateral trading system.

All WTO members are obliged to follow WTO rulings on settlement disputes as law.

NAFTA is an example of a(n)_____.

European Economic Community is the official title of European economic integration since 1993.

_____ refers to the official title for regional economic integration involving 21 member economies around the Pacific.

Regional integration deals in Africa show the least amount of protectionism in international trade.

The GATT differed from the WTO in that the GATT was not considered an organization.

Passport-free travel zones can only be setup in political unions.

The _____ is a free trade agreement among Canada,the United States,and Mexico.

The WTO differs from "GATT 1948" in that the WTO _____.

All the countries of Europe are part of the European Union (EU).

Which of the following agreements was in direct violation of the principles of GATT?

Which of the following is a WTO agreement regulating intellectual property?

Explain the formation of APEC.

The crucial principle of GATT/WTO is nondiscrimination,ensuring that countries do not discriminate among its trading partners.

Which of the following South American countries pulled out of the Andean Community and joined Mercosur in 2006?

The Andean Community's largest trading partner is the United States.

Britain,Denmark,and Sweden are the only three countries which did not join the EU.

The Euro is currently used in _____.

The refusal of Japan,the EU,and the US to reduce farm subsidies was one of the reasons for the collapse of the Doha Round.

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing with Foreign Exchange

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing,Structuring,and Learning around the World

Competing on Marketing and Supply Chain Management

Managing Human Resources Globally

Financing and Governing the Corporation Globally

Managing Corporate Social Responsibility Globally

Filters