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chapter 8 international business
Terms in this set (15)
A(n) ________ requires member nations to harmonize their tax, monetary, and fiscal policies and create a common currency.
An increase in the level of trade among nations that results from regional economic integration is called ________.
Currently the most sophisticated and advanced example of regional integration is occurring in ________.
Economic integration whereby countries remove all barriers to trade among themselves, but each country determines its own barriers against nonmembers, is called a(n) ________.
free trade area
Economic integration whereby countries remove all barriers to trade among themselves, but set a common trade policy against nonmembers is called a(n) ________.
Economic integration whereby countries remove all barriers to trade and the movement of labor and capital between themselves and set a common trade policy against nonmembers is called a ________.
For countries to become members of the European Union, they have to meet certain demands laid down by the EU referred to as the ________.
In 1951, Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands signed the Treaty of Paris and created the ________.
European Coal and Steel Community
Scenario: Learning the Americas' Way
The newly-formed countries that emerged after the break up of the United Frontier States (UFS) are interested in learning more about integration in the Americas. Because the former UFS nations have many similarities with the countries of North and South America, they believe they can learn from the integration experience in the Americas. To that end, they pose the following questions.
Bolivia, Colombia, Ecuador, and Peru belong to the ________.
The European Commission is the ________ body of the European Union.
The least amount of sovereignty that must be surrendered to a trading bloc occurs in a ________.
free trade area
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 ________.
regional economic integration
Which of the following is a potential drawback of regional economic integration?
Which of the following is the greatest extent of regional economic integration?
Which of the following statements is true of NAFTA?
It eliminated all tariffs and nontariff trade barriers on goods originating from within North America.
THIS SET IS OFTEN IN FOLDERS WITH...
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