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Worksheets4.1.5. Trading Blocs
Total questions: 17
Worksheet time: 9mins
Which of the following countries make up NAFTA?
United states, Canada, Alaska
United states, Canada, Mexico
United states, Canada, Iceland
United States, Alaska, Mexico
Which of these country is NOT a member of ASEAN?
Cambodia
Brunei darussalam
Laos
China
The European Union is one powerful global economic bloc. ASEAN is best described as being:
A free trade zone
A confederation of states
A monetary union
Political union
what is the main reason behind introducing Euro as common currency
Promotes economic sovereignty
Protect business from currency fluctuations
allow free movement of people
None of the above
Which of the following countries is not a member of the EU?
Croatia
Spain
Malta
Turkey
A common or single market will have all of the following features except:
No internal trade barriers
Common external tariff
Factor and asset mobility
A common currency
What is the purpose of NAFTA?
To increase trade between the countries of North America
To help Canada become a more independent nation
To eliminate the environmental issues between the nations involved
Define trading bloc.
Groups of countries that agree to reduce or eliminate trade barriers between themselves
Union that adopts a common currency
Measure of the the price of a country’s exports relative to its imports.
refers to the value of exports minus imports.
What is the name of the arrangement that formed the basis of the modern international trade system after World War II?
World Bank
World Trade Organization (WTO)
General Agreement on Tariffs and Trade (GATT)
International Trade Organization (ITO)
Limit on the amount of a product imported into a country during a specific period of time.
trade agreement
tariff
trading bloc
quota
Policy of protecting a country's domestic industries by enforcing trade regulations on foreign competitors
trade sanction
protectionism
balance of payments
adaptation
Governmental tax on imported goods
floating currency
tariff
trade sanction
embargo
Which country is the world’s leading goods exporter?
Japan
China
Germany
United States
In which year did the North American Free Trade Agreement come into effect?
1989
1992
1994
2002
