Terms in this set (50)
Before an agreement can be reached between the United States and European Union, major differences will have to be worked out. These differences include aspects related to all of the following except:
The World Trade Organization, which came into existence on January 1, 1995, is the successor of another organization with the abbreviation:
Which form of regional cooperation agreement, when fully implemented, entails creation of a unified central bank, the use of a single currency, and common policies on agriculture, social services and welfare?
Trade ministers representing the WTO member nations meet ________ to work on improving world trade.
The form of economic cooperation that calls for 1) eliminating internal barriers to trade and 2) establishing common external barriers is known as a(n):
________ builds upon the elimination of internal tariff barriers, the establishment of common external barriers, and the free flow of factors.
Arrange the following in order from lowest to highest level of economic integration.
free trade area→customs union→common market→economic union
A true economic union requires:
As a result of CFTA, the U.S. automakers participate in the Canadian auto market, thereby benefiting due to:
greater economies of scale
Custom unions or a common market does not create a free trade area as compared to NAFTA due to:
no common external tariffs.
The form of economic cooperation that calls for countries to eliminate all internal barriers to trade among themselves even while maintaining independent trade policies vis-à-vis third countries is known as a(n):
Free trade area.
NAFTA creates a free trade area in North America. However, Mexican avocado growers:
can only ship avocados to the United States in winter months.
NAFTA creates a free trade area, as opposed to a customs union or a common market, due to the fact that:
the governments of all three nations decided to eliminate tariffs.
The allure of the Latin American market has been its
The most important preferential trading arrangements in Latin America do not include:
The five original members of the Central American Integration System did not include:
Which member of the Central American Integration System has both the largest economy and the largest population?
Implementation of the Central American Free Trade Agreement with the United States created a free trade area known as DR-CAFTA that includes all SICA members except:
The Secretariat for Central American Integration is headquartered in:
Considering the progress, attempts to achieve integration in Central America has been described as:
The country that withdrew from the original members of the Andean Community is:
About 70% of Ecuador's flower harvest is exported to:
the United States
The "Common Market of the South" in Latin America is used to describe:
Argentina provides a good example of how a country can emerge from an economic crisis as a stronger global competitor as per the following statement:
Argentina devalued its currency for exports and capital transactions.
The English-speaking CARICOM members in the eastern Caribbean are concerned with defending their privileged trading position with:
the United States.
The original six members of the ASEAN (Association of Southeast Asian Nations) included all of the following countries except:
Which one of the ASEAN members has the World's second-largest container port?
There are barriers in Japan for global marketers in terms of attitudes as well as laws. Barriers include all of the following except:
goods marketed should have a semblance of western products and services.
For the past 40 years Bhutan, a kingdom of 700,000 people in the Himalaya mountains, has relied on the following measure:
Which of the following ASEAN countries ranks number one in terms of two-way trade with the United States?
The Maastricht Treaty called for:
the creation of an economic and monetary union in Europe.
The introduction of the euro by EU resulted in multifaceted advantages which include:
elimination of costs associated with currency conversion.
The non-EU member which uses the euro as its currency is:
The new country joining the EU at the beginning of 2014 is:
Markets of Central and Eastern Europe present interesting opportunities and challenges. Companies such as 3M International, McDonald's, Philips Electronics, and Henkel are moving into the region for all of the following reasons except:
core products and Western brand names need changes to meet consumer demands.
Management strategic options pertaining to products that are facilitated by a single European market include:
all of the above
Because they are in transition, the markets of Central and Eastern Europe present interesting opportunities and challenges which include:
all of the above
The enlargement of the EU has impacted marketing strategies in the Eurozone countries by:
shifting products from one market to another in the event of shortages.
The markets of Central and Eastern Europe present interesting opportunities and offer attractive locations for low-cost manufacturing due to:
wage rates being lower than in Spain, Portugal and Greece.
With the global economic crisis as a backdrop, the first-ever Happiness Congress was held in:
Political and social instability in the Middle Eastern region can primarily be attributed to:
a wide gap between rich and poor nations due to oil revenues
The Gulf Cooperation Council (GCC) includes all of the following countries except
A key word(s) in conducting business in the Middle East is:
In spite of having about 45% of the world's known oil reserves, Saudi Arabia and other Middle Eastern countries post current-account deficits, largely because:
they must import most of the goods and services.
The Middle East and North Africa are sometimes viewed as a regional entity referred to as:
In recent years, the economy of selected countries in ECOWAS has improved except in:
In order to form a free trade area, South Africa has signed a Trade, Development, and Cooperation Agreement (TDCA) with:
African companies will find it easier to gain access to financing from the U.S. Export-Import Bank due to:
Other than tariffs, there are certain problems that restrict free trade between the European Union and the United States which includes all of the following except:
The reason why Greece, Ireland, Portugal, and Spain sometimes are referred to as the eurozone's "peripheral countries" is:
that they all rank lower than their EU neighbors in terms of infrastructure.
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