Topic 6 Regional Economic Integration

Agreements between countries in a geographic region to reduce _______.

• risk

• tariff

• interdependency

• subsidies

There are ______ levels of economic integration.

• 2

• 3

• 4

• 5

_______ is the least integrated level of economic integration.

• Common Market

• Political Union

• Free Trade Area

• Customs Union

_______ is the most integrated level of economic integration.

• Common Market

• Political Union

• Free Trade Area

• Customs Union

Based on levels of economic integration from the most integrated to the least integrated, which sequence is true?

• Political Union-Common Market- Economic Union-Customs Union-Free Trade Area

• Political Union-Economic Union-Common Market- Customs Union-Free Trade Area

• Free Trade Area-Common Market- Customs Union-Economic Union-Political Union

• Free Trade Area- Customs Union-Common Market-Economic Union-Political Union

Which one is an example of American economic integration?

• Mercosur

• EU

• AFTA

• RCEP

Which one is an example of Asian economic integration?

• Mercosur

• EU

• AFTA

• RCEP

RCEP consist of the following country members, EXCEPT _____.

• Mexico

• Australia

• Japan

• Singapore

The USMCA is a comprehensive trade agreement between _________.

• Norway, Switzerland and US

• US, China and Japan

• US, Mexico and Canada

• US, Australia and Canada

Political and regulatory divergence refers to ______.

• Issues such as corruption, weak institutions, and political unrest.

• Inadequate infrastructure, including transportation networks, ports, and telecommunications systems.

• Disagreements over issues such as labor standards, environmental regulations, and intellectual property rights.

• Some countries enjoying higher levels of development and economic prosperity than others.