
Chapter 9: Regional Economic Integration
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University
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Hannah Kassem
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25 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Trade agreements are sometimes called “double-edged swords” because they allow a nation’s companies to seek new markets abroad and
reduce competition in the domestic market
increase national sovereignty among member nations
allow foreign companies to compete in the domestic market
increase business competition among nonmember nations
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Economic integration by which countries remove all barriers to trade among themselves but each country determines its own barriers against nonmembers is called a(n)
common market
customs union
free trade area
economic union
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The feature that a customs union adds to a free trade area is that members agree to
coordinate certain key aspects of the economic policies
treat trade with all nonmember nations in a similar manner
set their own individual policies for trade with nonmembers
the free movement of labor and capital
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which of the following statements supports the formation of a common market?
Trade can shift away from firms in nonmember nations and reward less efficient producers in member nations
Individuals have greater mobility to relocate and find meaningful work
It helps members coordinate their national economic policies
The main end goal is to remove barriers to merchandise trade
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The broader the coverage of a trade agreement and the larger the region to be integrated,
the less likely it is to expand in size and scope in the future
the more likely it is to be unfair to nonmember nations
the greater the odds that it will end in failure
the greater the potential for productivity gains and economic growth
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The movement of trade away from nonmember nations and toward nations participating in a trade agreement is called
trade integration
trade diversion
trade creation
a free trade area
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
One argument made against regional economic integration is that it
increases national sovereignty with which individual members must wrestle
generates increased product choice and consumption possibilities for member nations
can cause lost jobs in some nations as labor-intensive work moves to members having lower-cost labor
diverts trade toward the most efficient producers in nonmember nations
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