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WorksheetsRegional Economic Integration
Total questions: 10
Worksheet time: 10mins
1. Which of the following is an example of regional economic integration?
The European Union
The British Commonwealth
The Cingular and AT&T merger
The Commonwealth of Independent States
2. The General Agreement on Tariffs and Trade (GATT) expanded considerably into a multilateral trading system called _____.
EU
NAFTA
UN
WTO
3. Which of the following agreements was in direct violation of the principles of GATT?
Trade policy review
Multifibre Arrangement
General Agreement on Trade in Services
Trade-Related Aspects of Intellectual Property Rights
4. A free trade area _____.
imposes common external policies on nonparticipants in order to combat trade diversion
permits the free movement of goods and people among member nations
comprises a group of countries that remove trade barriers among themselves
coordinates and harmonizes economic policies in order to blend their economies into a single economic entity
5. NAFTA is an example of a(n) _____.
free trade area
customs union
common market
economic union
6. Which of the following characterizes a customs union?
It requires each member to maintain different external policies regarding non-members.
It imposes common external policies on
non-members.
It integrates the political and economic affairs of a region.
It permits the free movement of goods and people among its members.
7. Which of the following is an example of a political union?
The EU
The United States
The British Commonwealth
The Andean Community
8. The Euro is currently used in _____.
all EU member countries
all European countries
19 EU countries
Schengen countries only
9. Which of the following regions describes the euro zone?
A region that comprises EU members without a common currency
A region that comprises all EU members
A region that has passport-free traveling
A region that has a common currency
10. In which of the following types of economic integration systems will the establishment of a common currency be possible?
Customs union
Economic union
Free trade area
Common market
