🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Economics
6
answers
0
watching
339
views

Which of the following is NOT criteria for member nations to use the euro as outlined in the Maastricht Treaty?

A. Specific interest rates

B. A specific level of inflation

C. A lack of price transparency

D. A specified level of debt

E. A specified level of government deficit

Which of the following statements does not describe the African Union (AU)?

A.The AU envisions a united and strong Africa.

B. The aim of the AU is to remove vestiges of colonialism and apartheid.

C. The AU aims to continue the policies of colonialism.

D. The AU aims to intensify cooperation for development.

E. On the African continent, 53 nations created the African Union (AU).

Which of the following is NOT a positive effect of regional trade agreements?

A. Corporate savings

B. Trade diversion

C. Employment opportunities

D. Political cooperation

E. Trade creation

Which of the following is NOT a fact about ASEAN that warrants consideration?

A. Corruption and shadow markets

B. Economic competition

C. Political change and turmoil

D. Diverse cultures and politics

E. Common tariffs and standards

Which of the following statements about ASEAN is FALSE?

A. ASEAN consists of five countries.

B. ASEAN seeks to promote economic, cultural, and social development.

C. ASEAN was formed in 1967.

D. ASEAN serves as a forum to resolve differences peacefully.

E. ASEAN seeks to counter China's rising strength, resources of cheap labor, and abundant raw materials.

Which of the following is NOT a provision of NAFTA?

A. Adding new countries to the European Union

B. Liberalized rules for the granting of subsidies

C. Liberalized rules regarding government procurement practices

D. Elimination of tariffs in North America

E. Trade in services, intellectual property rights, and standards of health, safety, and the environment

Which of the following is NOT a negative effect of regional trade agreements?

A. Political cooperation

B. Employment shifts

C. Trade diversion

D. Loss of national sovereignty

E. Cultural homogenization

Which of the following is NOT an effect off NAFTA?

A. The United States exports more to Mexico.

B. NAFTA has created jobs in the United States.

C. Mexico's exports to the United States have increased.

D. The United States has developed a trade deficit with Canada and Mexico.

E. Trade among Canada, the United States, and Mexico has increased.

Which of the following is NOT a main regional trading bloc?

A. North American Free Trade Agreement

B. United Nations

C. European Union

D. Association of Southeast Nations

E. Southern Common Market

Watch
6
answers
0
watching
339
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Kritika Krishnakumar
Kritika KrishnakumarLv10
28 Sep 2019
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

1. Which of the following is true of the customs union?

a. in a customs union, tariff and non-tariff barriers between the member nations are absent.

b. in a customs union, a fixed exchange rate regime is implemented among the member nations.

c. in a customs union, member nations agree to transfer economic sovereignty to a supranational authority.

d. in a customs union, the member nations do not impose any external trade restrictions against the nonmembers.

 

2. When the national, taxation, social, and fiscal policies of two or more nations are administered by a supranational institution, the nations are said to be a part of:

a. a common market

b. a free-trade area

c. an economic union

d. a customs union

 

3. The trade creation effect under a customs union is stronger if:

a. the production effect increases

b. the trade diversion effect rises

c. the inefficient domestic producers continue to operate

d. The consumption effect reduces

 

4. Who among the following is a loser from free trade of the U.S. with Mexico?

a. Workers in import-competing industries in the U.S

b. Workers in labor-intensive businesses relocated from the U.S. to Mexico

c. The consumer in the U.S.

d. Workers in industries that use an imported component in its production process in the U.S.

 

5. A major hindrance to the growth processes of developing nations is that

a. they mostly adopt export-promoting industrialization policies

b. they have a dearth of low-wage workers.

c. they lack adequate institutions

d. they are not centrally planned economies

 

6. One of the functions of the World Bank is to

a. stipulates measures that will improve the balance of payments of a member nation

b. advances loans in foreign currencies to a member nation facing currency deficits

c. provides grants for specific development projects of a member nation.

d. review the trade policies of member nations and make necessary amendments

The largest corporation based in the United States is:

A) General Motors.
B) ExxonMobil.
C) General Electric.
D) Microsoft.

2.

Service exports from the United States equal _____ per year.

A) less than $100 billion
B) approximately $250 billion
C) less than $350 billion
D) approximately $500 billion

3.

In addition to agricultural products and manufactured goods, the United States is also the world's largest exporter of:

A) processed and packaged foods.
B) pharmaceuticals.
C) electronics.
D) business services and retailing.

4.

Before entering a country, marketers need to determine if the country has the required _____ to support their marketing efforts.

A) moral code
B) legal system
C) infrastructure
D) trade bodies

5.

In order for a marketer to operate efficiently in a foreign country, it is crucial that a stable _____ be in place to facilitate trade.

A) free trade agreement
B) tariff
C) infrastructure
D) labor force

6.

Which of the following is not a trade barrier to an exporter?

A) Tariffs
B) Import quotas
C) Subsidies
D) Related party trade

7.

A complete ban on the import of a product is known as a(n):

A) import quota.
B) embargo.
C) revenue tariff.
D) protective tariff.

8.

Exchange control is an administrative barrier to international trade that:

A) requires companies that export to sell foreign currencies to the central bank or other foreign agency, and importers to buy foreign currencies from the same organization.
B) supports domestic industry through grants of money or research support.
C) completely bans the importation of a product.
D) sells products in a foreign market cheaper than they are sold domestically.

9.

When a group of nations agree to the free trade of goods among themselves by abolishing tariffs and trade restrictions, the nations have created a:

A) common market.
B) customs union.
C) trading block.
D) free-trade area.

10.

Which of the following is not an objective of the European Union(EU)?

A) eventually remove all trade barriers to free trade among its members.
B) standardize currencies and regulations between member nations.
C) promote the basic tenets of the WTO and GATT treaty.
D) eventually evolve into an independent political entity.

11.

An organization that provides first-time exporters with expertise in locating foreign buyers, handling paperwork, and conforming to local labeling and testing laws is called a(n):

A) export facilitator.
B) export title company.
C) trade assistance corporation.
D) export management company.

12.

McDonald

31. A country's tax system influences the attractiveness of investing in that country and affects the relative level of profitability for an MNC.

a. True

b. False

32. Points inside a production possibilities frontier represent

a. unattainable production combinations

b. efficiency

c. situations where supply exceeds demand

d. unemployment of resources

33. Firms in a high-wage nation like the U.S. can compete effectively with imports from low-wage nations if

a. the U.S. reduces tariffs on imports

b. low-wage nations impose tariffs on U.S. made goods

c. labor productivity is higher in the low-wage nation

d. labor productivity is higher in the U.S.

34. Assume that production in the United States is valued at $100,000. National income is therefore $100,000. Of their income, workers save $2000, pay $6,000 in taxes, spend $89,000 on consumer goods, and spend $2000 on imports. Businesses spend $5,000 in new investment spending. And, foreigners spend $1000 on exports. To avoid any problems of inflation or unemployment, the government should have a budget deficit or surplus of:

a. $2,000 surplus

b. $1,000 deficit

c. $2,000 deficit

d. $1000 surplus

e. $0 deficit

35. Autarky means-----------------------------------------------------------------

a. the absence of government

b. lack of agriculture

c. self-sufficient, in the absence of international trade

d. short of exchange rates

36. The more people there are----------------------, the less the public as a whole will spend on goods and services.

a. unemployed

b. underemployed

c. employed

d. as discouraged workers

37, Which of the following theories holds that countries will produce and export products that use large amounts of production factors that they have in abundance?

a. Mercantilism

b. The theory of absolute advantage

c. The factor endowment theory

d. None of the above.

38. Suppose that a consumer has a marginal propensity to consume of 0.79. If this consumer earns an extra $1220, her saving would be expected to increase by-----------------------------

39. Many countries in Asia, Africa, and South America-----------------------

a. Are developing countries

b. Are industrialized nations

c. Have a high demand for nonessential products

d. Do not trade

40. Which two of the following are regarded as the main aims of the World Trade Organization (WTO)?

a) To eliminate discrimination in world trade

b) To provide financial assistance to countries with debt

c) To reduce tariff barriers

d) To make infant industry protection illegal

e) To help give preferences to smaller economies

b) and e) a) and c) a) and d) c) and e) b) and d)

41. Last year Sophia's nominal income increased by 12% while the price level rose by 5.5%. Consequently, Sophia's real income:

a. rose by approximately 7%

b. fell by approximately 1%

c. rose by approximately 2%

d. ------------------------------------

42. Consumer surplus

a. is always positive.

b. for a particular unit of consumption is computed by taking the difference between quantity demand and quantity supplied.

c. for all units consumed is the area below demand and below market price over all the units consumed.

d. added to producer surplus provides a measure of the net gain to society from the production and consumption of the good.

43. A decline in Real GDP for six or more consecutive months is called-------------------------------

a. A trough

b. A recession

c. An expansion

d. A recovery

44. What do we call the situation where capital grows faster than the labor force?

a. economic growth

b. technological change

c. productivity growth

d. capital deepening

45. The terms of trade are-------------------------------------------

a. the cost of transportation between countries

b. the ratio of wages in two countries

c. the terms which are used in the trade negotiations

d. the rate at which two products can be exchanged

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in