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Exam 8: Regional Economic Integration

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Question 51

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Explain how political cooperation is a benefit of regional integration.How has the Gulf Cooperation Council (GCC)evolved towards political cooperation?

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There can also be political benefits fro...

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Question 52

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The main difference between a free trade area and a customs union is that the members of a customs union ________.

A) agree to the free movement of all factors of production
B) harmonize their tax,monetary,and fiscal policies and create a common currency
C) agree to treat trade with all nonmember nations in a similar manner
D) accept a common stance on economic and political policies regarding nonmember nations

E) B) and D)
F) B) and C)

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Question 53

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Moonland Union Twenty-six nations of Moonland region,have decided to cooperate with one another to eliminate trade barriers among them and create the Moonland Union.They are not sure,however,to what extent they want to cooperate. -As a first stage of cooperation,the countries agree to remove all barriers to trade among themselves.Each country also maintains policies it sees fit against nonmembers.At this stage,Moonland Union can be described as a ________.

Discuss "political union" as a level of economic integration and "political cooperation" as a benefit of economic integration.

Which of the following is an important goal of regional economic integration?

Describe the Association of Southeast Asian Nations (ASEAN).

The Southern Common Market is also referred to as MERCOSUR.

A group of nations in a geographic area undergoing economic integration is called a ________.

The Maastricht Treaty called for political union of the member nations.

Which of the following is the lowest extent of regional economic integration?

Currently the most sophisticated and advanced example of regional integration is occurring in ________.

The Single European Act predominantly aimed at establishing common transportation policies among the European Union members.

________ require that member countries concede a certain amount of their national autonomy to the supranational union of which they are a part.

In 1951,Belgium,France,West Germany,Italy,Luxembourg,and the Netherlands signed the Treaty of Paris and created the ________.

ALADI refers to the ________.

Economic integration whereby countries remove all barriers to trade among themselves,but each country determines its own barriers against nonmembers,is called a(n) ________.

An increase in the level of trade among nations that results from regional economic integration is called ________.

The process whereby countries in a geographic area cooperate with one another to reduce or eliminate barriers to the international flow of products,people,or capital is called ________.

Today,the Southern Common Market (MERCOSUR) acts as a(n) ________.

The North American Free Trade Agreement membership includes Canada,Mexico,and the United States.