Regional Integration MC # 1

'Economic Integration', as part of CARICOM's main objectives, aims primarily at

• rationalizing CARICOM's existing tariffs

• limiting outside access to CARICOM products

• accelerating development in CRICOM member states

• reducing the debt owned by CARICOM members states

CARICOM countries need to pool their skilled human resources. The most likely result of action would be

• a speeding up of the rate of "brain drain"

• a reduction in workers wages and salaries

• a reduction in the need for foreign experts

• an increase in spending of foreign exchange

Which of the following is a function of the Caribbean Development Bank?

• Regulating foreign exchange rates in CARICOM countries

• Providing loans to individuals in the Caribbean for constructing homes

• Serving as a central bank for all commercial banks in the CARICOM region

• Organizing and supervision loans for developmental works to members states

For which of the following reasons are Caribbean government MOST likely to try to attract private investors?

• To promote economic development in the region

• To increase travel among the people of the region

• To increase the markets and revenue of the larger territories

• To ensure that goods from outside of the regional become cheaper

Which of the following may Hinder economic integration in CARICOM countries?

• Removal of duties and tariffs

• Restrictions on intra-regional trade

• The establishment of a common currency

• More funding from the Caribbean Development Bank

For which of the following reasons are Caribbean government MOST likely to try to attract private investors?

• To promote development in the region

• To increase travel among the people of the region

• To increase the markets and revenue of the larger territories

• To ensure that goods from outside of the region become cheaper

The two MOST recent members of CARICOM are

• Grenada and St. Lucia

• Suriname and Haiti

• Belize and Guyana

• Cuba and Venezuela

Which of the following institutions of CARICOM is responsible for the economic activities of the Community?

• Common Market Council

• Heads of Government Conference

• Conference of Agricultural Ministers

• Standing Committee of Ministers

Which of the following is associated with increased agricultural production in CARICOM?

• Increased migration from the region

• Reduced importation of agricultural tool

• Increased rural- urban migration

• Reduced dependence on imported food

The treaty which led to the establishment of CARICOM is an example of a

• Multilateral agreement

• Unilateral agreement

• Functional agreement

• Bilateral agreement