Trade Blocks

what is a benefit of being part of a trading bloc?

• A. Increased tariffs on imports
• B. Easier access to larger markets and economic cooperation
• C. Complete independence from international trade agreements
• D. Restriction of foreign direct investment

Which trading bloc includes Canada, the United States, and Mexico?

• A. Association of Southeast Asian Nations (ASEAN)
• B. North American Free Trade Agreement (NAFTA)
• C. European Union (EU)
• D. World Trade Organization (WTO)

How do trading blocs reduce trade barriers?

• A. By imposing higher tariffs on goods from non-member countries
• B. By eliminating tariffs and quotas among member countries
• C. By creating a single global currency
• D. By preventing international investments

Which of the following is an example of a trading bloc?

• A. European Union (EU)
• B. International Monetary Fund (IMF)
• C. United Nations (UN)
• D. World Health Organization (WHO)

What is a trading bloc?

• A. A group of countries that establish barriers to trade with each other
• B. A group of countries that promote free trade among themselves
• C. A military alliance between neighboring countries
• D. A policy to restrict trade with non-member countries

What is the relationship between financial stability and trade?

• A. Economically stable countries can engage in more open and fair trade
• B. Financial stability reduces the need for international trade
• C. Financial support encourages countries to impose new trade restrictions
• D. Financial stability has no impact on global trade

How does financial support for troubled economies reduce trade barriers?

• A. By strengthening economies so they can participate in global trade
• B. By increasing tariffs to protect local industries
• C. By restricting imports to improve local production
• D. By eliminating all forms of international competition

Which of the following is a criticism of the IMF?

• A. It only benefits low-income countries
• B. Its policies can lead to austerity measures in borrowing countries
• C. It imposes heavy tariffs on member countries
• D. It ignores issues of global economic stability

What type of support does the World Bank provide?

• A. Funding for global trade organizations
• B. Loans and grants for development projects in low-income countries
• C. Immediate financial aid for war-torn nations
• D. Regulation of international trade agreements

What is the role of the International Monetary Fund (IMF)?

• A. To promote economic stability and provide financial support to struggling economies
• B. To fund large infrastructure projects in wealthy nations
• C. To set global trade policies
• D. To eliminate competition between member countries