Economics - Regional Trading Arrangements
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This is The MCQs of Economics
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Question 1 of 29
1. Question
The NAFTA is a:
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Question 2 of 29
2. Question
Under the EU’s Common Agricultural Policy, a variable import levy equals the:
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Question 3 of 29
3. Question
Members of the EU find that trade creation|| is fostered when their economies are:
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Question 4 of 29
4. Question
The European Union has achieved all of the following except:
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Question 5 of 29
5. Question
Which country is not a member of the European Union?
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Question 6 of 29
6. Question
The European Union is an example of a/an:
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Question 7 of 29
7. Question
Which factor of production in the United States is most likely to be made worse off (its factor payment will decrease) because of the North American Free Trade Agreement?
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Question 8 of 29
8. Question
The implementation of the European Union has
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Question 9 of 29
9. Question
The Common Agricultural Policy of the European Union has:
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Question 10 of 29
10. Question
As of 2002, the ____ became the official currency union of the European Monetary System:
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Question 11 of 29
11. Question
When several countries jointly impose common external tariffs, eliminate tariffs on each other, and eliminate barriers to the movement of labor and capital among themselves, they have formed a/na
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Question 12 of 29
12. Question
The implementation of a common market involves all of the following except:
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Question 13 of 29
13. Question
Under the Common Agricultural Policy exports of any surplus quantities EU produce are encouraged through the usage of:
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Question 14 of 29
14. Question
Trade diversion takes place when:
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Question 15 of 29
15. Question
In free trade A will import:
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Question 16 of 29
16. Question
If A imposes a per unit tariff of $10 on imports from both B and C A will import
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Question 17 of 29
17. Question
If A forms a customs union with B, A will import:
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Question 18 of 29
18. Question
If A forms a customs union with C, the value of trade diversion will be:
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Question 19 of 29
19. Question
The European Monetary Union is an example of a:
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Question 20 of 29
20. Question
____ is said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries in favor of member countries
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Question 21 of 29
21. Question
A ____ is a regional trading bloc in Which member countries eliminate internal trade barriers but maintain existing barriers against countries that are not member
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Question 22 of 29
22. Question
_____ is said to exist when the formation of a regional trading group leads to an expansion of trade above pregroup levels
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Question 23 of 29
23. Question
Which level of economic integration best applies to the U.S economy?
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Question 24 of 29
24. Question
A positive, dynamic effect of economic integration is illustrated by:
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Question 25 of 29
25. Question
Suppose that tomatoes from Mexico face a 20 percent tariff in the United States and a 25 percent tariff in Canada. If the United States and Canada maintain free trade between each other, the these two countries belong to a:
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Question 26 of 29
26. Question
Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ____ and the total number of countries forming the customs union is _____
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Question 27 of 29
27. Question
When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists
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Question 28 of 29
28. Question
Criticisms against the North American Free Trade Agreement include all of the following except:
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Question 29 of 29
29. Question
Trade creation takes place when:
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