NAFTA was primarily formed because the member nations have ________.

NAFTA was primarily formed because the member nations have ________.  A) static and dynamic liberalization policies B) similarly sized economies...

Which of the following are members of NAFTA?

Which of the following are members of NAFTA? A) the United States, Canada, and Mexico B) North America and Latin America C) the United Kingdom, the...

Which of the following recently threatened the future of the EU's common currency?

Which of the following recently threatened the future of the EU's common currency? A) refusal of the UK to use the euro B) failed mergers and acquisitions C)...

Korman Industries is a foreign multinational that recently established operations in the European Union. What is the most likely advantage for Korman as a result?

Korman Industries is a foreign multinational that recently established operations in the European Union. What is the most likely advantage for Korman...

Hudson Manufacturing is an MNE based in the U.S. with operations in Asia. The firm is considering expansion into the European Union. Executives at the firm are debating whether central Europe or Eastern Europe would be best for the firm. Which of the following best supports a decision to establish operations in Eastern Europe?

Hudson Manufacturing is an MNE based in the U.S. with operations in Asia. The firm is considering expansion into the European Union. Executives at the...

Hudson Manufacturing is an MNE based in the U.S. with operations in Asia. The firm is considering expansion into the European Union. Which of the following questions is most relevant to the decision?

Hudson Manufacturing is an MNE based in the U.S. with operations in Asia. The firm is considering expansion into the European Union. Which of the following...

Which of the following members of the European Union has NOT adopted the euro?

Which of the following members of the European Union has NOT adopted the euro? A) United Kingdom B) Estonia C) Germany D) Greece Answer: A)...

Which of the following statements about the euro is true?

Which of the following statements about the euro is true? A) It was adopted by all existing EU members when it was first initiated. B) It must be...

The ________ is the common currency of the European Union.

The ________ is the common currency of the European Union. A) franc B) pound C) euro D) mark Answer: C) eu...

Critics of the Lisbon Treaty primarily argue that the legislation will ________.

Critics of the Lisbon Treaty primarily argue that the legislation will ________.  A) reduce national sovereignty B) implement trade restrictions C)...

Which of the following was primarily responsible for establishing the euro?

Which of the following was primarily responsible for establishing the euro? A) Lisbon Treaty B) Treaty of Maastricht C) European Finance Act D) Single...

The EU organization that ensures consistent interpretation and application of EU treaties is the ________.

The EU organization that ensures consistent interpretation and application of EU treaties is the ________. A) European Commission B) Council of Ministers C)...

The EU organization that provides political leadership, drafts laws, and runs the daily programs of the EU is the ________.

The EU organization that provides political leadership, drafts laws, and runs the daily programs of the EU is the ________. A) European Commission B)...

The three major responsibilities of the ________ are legislative power, control over the budget, and supervision of executive decisions.

The three major responsibilities of the ________ are legislative power, control over the budget, and supervision of executive decisions. A) European...

The ________ is the European Union's ultimate decision-making body and is composed of the different ministers of the member countries.

The ________ is the European Union's ultimate decision-making body and is composed of the different ministers of the member countries. A) European...

Because the size of the market increases when trade barriers fall, companies can increase their production, which will result in lower costs per unit. This phenomenon is known as ________.

Because the size of the market increases when trade barriers fall, companies can increase their production, which will result in lower costs per unit....

Assume that U.S. companies are importing the same product from Mexico and Taiwan. The United States enters into an FTA with Mexico but not with Taiwan. Consequently, the United States begins to import more goods from Mexico (due to lower tariffs) than from Taiwan, even though the Mexican products are not any better or cheaper. This is most likely an example of ________.

Assume that U.S. companies are importing the same product from Mexico and Taiwan. The United States enters into an FTA with Mexico but not with Taiwan....

A free trade agreement is likely to increase efficiency because of ________.

A free trade agreement is likely to increase efficiency because of ________. A) decreased competition B) increased competition C) decreased trade...

Since production has shifted to more efficient producers due to comparative advantage, consumers in Country X have had access to more goods at lower prices. Which of the following most likely exists?

Since production has shifted to more efficient producers due to comparative advantage, consumers in Country X have had access to more goods at lower...

When the European Union was formed, the size of the market increased for European companies. This is most likely an example of a ________.

When the European Union was formed, the size of the market increased for European companies. This is most likely an example of a ________. A) dynamic...

Trade shifting to countries within a regional trade agreement at the expense of trade with countries not in the agreement is called ________.

Trade shifting to countries within a regional trade agreement at the expense of trade with countries not in the agreement is called ________. A) a...

______ effects of economic integration are the overall growth in the market and the impact on a company caused by expanding production and by the company's ability to achieve greater economies of scale.

______ effects of economic integration are the overall growth in the market and the impact on a company caused by expanding production and by the company's...

______ effects of trade agreements are the shifting of resources from inefficient to efficient companies as trade barriers fall.

______ effects of trade agreements are the shifting of resources from inefficient to efficient companies as trade barriers fall. A) Dynamic B) Static C)...

Members of the Andean Community (CAN) have a common external tariff. CAN is most likely a ________.

Members of the Andean Community (CAN) have a common external tariff. CAN is most likely a ________. A) free trade agreement B) customs union C) domestic...

A ________ results when free mobility of factors of production is added to a customs union.

A ________ results when free mobility of factors of production is added to a customs union. A) customs union B) common market C) free trade agreement D)...

Of the following possibilities, the European Union is best described as a ________.

Of the following possibilities, the European Union is best described as a ________.  A) customs union B) domestic organization C) global bargaining...

The goal of a ________ is to abolish all tariffs among member countries.

The goal of a ________ is to abolish all tariffs among member countries. A) customs union B) common market C) free trade agreement D) common internal...

The 27 member EU negotiates trade agreements as one. The EU and Brazil have negotiated a strategic trade alliance which is an example of a ________.

The 27 member EU negotiates trade agreements as one. The EU and Brazil have negotiated a strategic trade alliance which is an example of a ________. A)...

Which of the following groups of countries is most likely to form a regional trading group?

Which of the following groups of countries is most likely to form a regional trading group? A) India, Argentina, France B) Canada, United States,...

Most trade groups contain countries in the same area of the world. Why is this so?

Most trade groups contain countries in the same area of the world. Why is this so? A) The distances that goods need to travel between such countries...

A major problem with the Doha Round is that ________.

A major problem with the Doha Round is that ________. A) developing countries want developed countries to better protect their intellectual property B)...

Under the WTO agreement, ________.

Under the WTO agreement, ________. A) a dispute resolution mechanism allows countries to bring grievances to the WTO against countries that levy...

Which of the following accurately identifies a difference between GATT and the WTO?

Which of the following accurately identifies a difference between GATT and the WTO? A) GATT could enforce member compliance with agreements, but the...

The ________ clause embodied the fundamental principle of GATT—trade without discrimination.

The ________ clause embodied the fundamental principle of GATT—trade without discrimination. A) most-favored-nation B) nontariff barriers C) free...

Which of the following is NOT one of the regions included in the triad regions of the world?

Which of the following is NOT one of the regions included in the triad regions of the world? A) South America B) Europe C) North America D) Asia Answer: A)...

Baldani Manufacturing, an Italian firm, plans to expand into Asia. In order to take advantage of regional trading groups, Baldani will most likely need to change its ________.

Baldani Manufacturing, an Italian firm, plans to expand into Asia. In order to take advantage of regional trading groups, Baldani will most likely need...

Anderson Enterprises is a U.S. firm that manufactures light fixtures for commercial and residential consumers. Anderson is looking to expand internationally, so the firm should most likely ________.

Anderson Enterprises is a U.S. firm that manufactures light fixtures for commercial and residential consumers. Anderson is looking to expand internationally,...

Which of the following statements most accurately describes the relationship between trading groups and MNEs?

Which of the following statements most accurately describes the relationship between trading groups and MNEs? A) Trading groups have no influence...

Global integration occurs as countries from all over the world decide to cooperate through the ________.

Global integration occurs as countries from all over the world decide to cooperate through the ________. A) EU B) NAFTA agreement C) WTO D) CARICOM Answer: C)...

The European Union is an example of ________ integration.

The European Union is an example of ________ integration. A) regional B) relative C) global D) bilateral Answer: A) region...

Country A and Country B make an agreement to cooperate more closely and implement tariff reductions. Which of the following best describes this agreement?

Country A and Country B make an agreement to cooperate more closely and implement tariff reductions. Which of the following best describes this agreement?  A)...

______ integration is the political and economic agreements among countries that give preference to member countries to the agreement.

______ integration is the political and economic agreements among countries that give preference to member countries to the agreement. A) Global B)...