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QUESTION 26 Which of the following has the highest level of integration? OA Aneconomic union B. Afree trade area OC. Acustoms union O D.Acommon market

QUESTION 26 Which of the following has the highest level of integration? OA Aneconomic union B. Afree trade area OC. Acustoms union O D.Acommon market

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Hey i submitted this assignment but i didnt specify that i would like 26-49 checked for me please with some explinations on why. i very much appreciate it and thank you so much.

QUESTION 26 Which of the following has the highest level of integration? O A. Aneconomic union O B. Afree trade area O C. Acustoms union O D. Acommon market QUESTION 27 The European Free Trade Association currently includes the following four countries: O A. Ireland, lceland, Denmark, and Belgium O B. Norway, lIceland, Switzerland, and Liechtenstein O C. Finland, Great Britain, Belgium, and Denmark O D. Sweden, Norway, Austria, and Finland QUESTION 28 A eliminates trade barriers between member countries and adopts a common external trade policy. O A. free trade area O B. global union O C. tariff union O D. customs union QUESTION 29 The European Union is currently a(n): O A. common market O B. customs union O C. economic union O D. political union QUESTION 30 The which is playing an every more important role in the EU, has been directly elected by citizens of the EU countries since the late 1970s. O A. North Atlantic Parliament O B. North Atlantic Trade Commission OC. European Parliament O D. European Trade Commission QUESTION 31 Linking neighboring economies and making them increasingly dependent on each other creates O A. catalysts; increases for political cooperation between the neighboring states and the potential for violent conflict. O B. catalysts; decreases O C. incentives; increases O D. incentives; decreases QUESTION 32 The two main reasons that have made economic integration difficult to achieve are O A. concerns over the safety of travel from one nation to another and concerns over dissimilar political ideologies. O B. concerns over costs and concerns over national sovereignty. O C. concerns over immigration and emigration and concerns over economic and political ideologies. O D. concerns over the safety of travel from one nation to another and concerns over national sovereignty. QUESTION 33 In the context of regional trade integration, concern about O A. cost arise because close economic integration demands that countries give up some degree of their control over such key policy issues as monetary policy, fiscal policy, and trade policy. O B. national sovereignty O . financial stability O D. cultural uniformity QUESTION 34 If the U.S. started to import textiles from Mexico according to a free trade agreement, but the U.S. previously acquired textiles from Costa Rica for less money, what kind of trade situation would the U.S. be in? O A. Trade generation O B. Trade creation O C. Trade diversion O D. Trade notification QUESTION 35 Historically, most FDI has been directed at the O A. underdeveloped, underdeveloped countries O B. developed, underdeveloped countries O C. developed, each other's markets O D. underdeveloped, each other's markets nations of the world as firms based in advanced countries invested in QUESTION 36 The phenomenon that occurs when high-cost domestic producers are replaced by low-cost producers within the free trade are is called O A. trade alteration. O B. trade qualification. O C. trade creation. O D. trade diversion. QUESTION 37 The European Union is the product of two political factors. The devastation of two world wars on Western Europe and O A. theEuropean nations' desire to hold their own on the world's political and economic stage. O B. the unawareness of potential economic benefits, O C. the removal of barriers to other countries. O D. the emergence of an economic superpower.
Transcribed Image Text:QUESTION 26 Which of the following has the highest level of integration? O A. Aneconomic union O B. Afree trade area O C. Acustoms union O D. Acommon market QUESTION 27 The European Free Trade Association currently includes the following four countries: O A. Ireland, lceland, Denmark, and Belgium O B. Norway, lIceland, Switzerland, and Liechtenstein O C. Finland, Great Britain, Belgium, and Denmark O D. Sweden, Norway, Austria, and Finland QUESTION 28 A eliminates trade barriers between member countries and adopts a common external trade policy. O A. free trade area O B. global union O C. tariff union O D. customs union QUESTION 29 The European Union is currently a(n): O A. common market O B. customs union O C. economic union O D. political union QUESTION 30 The which is playing an every more important role in the EU, has been directly elected by citizens of the EU countries since the late 1970s. O A. North Atlantic Parliament O B. North Atlantic Trade Commission OC. European Parliament O D. European Trade Commission QUESTION 31 Linking neighboring economies and making them increasingly dependent on each other creates O A. catalysts; increases for political cooperation between the neighboring states and the potential for violent conflict. O B. catalysts; decreases O C. incentives; increases O D. incentives; decreases QUESTION 32 The two main reasons that have made economic integration difficult to achieve are O A. concerns over the safety of travel from one nation to another and concerns over dissimilar political ideologies. O B. concerns over costs and concerns over national sovereignty. O C. concerns over immigration and emigration and concerns over economic and political ideologies. O D. concerns over the safety of travel from one nation to another and concerns over national sovereignty. QUESTION 33 In the context of regional trade integration, concern about O A. cost arise because close economic integration demands that countries give up some degree of their control over such key policy issues as monetary policy, fiscal policy, and trade policy. O B. national sovereignty O . financial stability O D. cultural uniformity QUESTION 34 If the U.S. started to import textiles from Mexico according to a free trade agreement, but the U.S. previously acquired textiles from Costa Rica for less money, what kind of trade situation would the U.S. be in? O A. Trade generation O B. Trade creation O C. Trade diversion O D. Trade notification QUESTION 35 Historically, most FDI has been directed at the O A. underdeveloped, underdeveloped countries O B. developed, underdeveloped countries O C. developed, each other's markets O D. underdeveloped, each other's markets nations of the world as firms based in advanced countries invested in QUESTION 36 The phenomenon that occurs when high-cost domestic producers are replaced by low-cost producers within the free trade are is called O A. trade alteration. O B. trade qualification. O C. trade creation. O D. trade diversion. QUESTION 37 The European Union is the product of two political factors. The devastation of two world wars on Western Europe and O A. theEuropean nations' desire to hold their own on the world's political and economic stage. O B. the unawareness of potential economic benefits, O C. the removal of barriers to other countries. O D. the emergence of an economic superpower.
QUESTION 39 Which European institution is responsible for proposing EU legislation, implementing it, and monitoring compliance? O A. TheEuropean Commission O B. TheEuropean Council O C. TheCourt of Justice O D. TheEuropean Judicial Court QUESTION 40 Which of the following was not one of the purposes of the Single European Act? O A. Remove all frontier controls between EU countries O B. Remove the principle of "mutual recognition" as it pertains to product standards OC. Open public procurement to nonnational suppliers O D. Lift barriers to competition in the EC's retail banking and insurance businesses QUESTION 41 Currently, the euro is being used by member states of the European Union.(closest number) O A. 19 О В. 10 О С. 33 O D. All EU members QUESTION 42 For participating countries, a drawback of a single currency in Europe is that O A. costs for doing business will increase. O B. itwill be more difficult to attract imports. O C. national authorities will lose control over monetary policy. O D. itwill be more difficult to compare prices across Europe. QUESTION 43 Which of the following countries is both member of the EU but has not yet joined the Euro and Euro Zone of the EU? O A. Turkey O B. Denmark O C. Switzerland O D. Norway QUESTION 44 According to the textbook, one likely short-term effect of NAFTA was that many U.S. and Canadian firms will move some production to Mexico to take advantage of O A. cheaper transportation costs. O B. lower interest rates. O C. lower labor costs. O D. ahigher skilled labor force. QUESTION 45 After the first decade of NAFTA, a study concluded that the overall effect of the agreement was: O A. negative and significant. O B. negative and small. O C. positive and significant. O D. positive and small. QUESTION 46 The was formed in 1969 when Bolivia, Chile, Ecuador, Columbia, and Peru signed the Cartagena Agreement. O A. Andean Pact O B. Bolivian Pact O C. NWSouth America Group O D. South American Federation of Independent States QUESTION 47 The customs union CARICOM applies to: O A. East Asian nations. O B. Middle Eastern nations. O C. Central American nations. O D. Caribbean nations. QUESTION 48 The inability of O A. Mexico to attract greater investment is in part a reflection of the political unrest, armed conflict, and frequent changes in economic policy in the region. O B. Europe O C. Canada O D. Africa QUESTION 49 The United States, Japan, and China are among members of a trade organization referred to as O A. AAFTC (American Asian Free Trade Congress). O B. APEC (Asia Pacific Economic Cooperation). OC. USAEU (United States Asian Economic Union). O D. ANAEPC (Asian-North American Economic and Political Coop).
Transcribed Image Text:QUESTION 39 Which European institution is responsible for proposing EU legislation, implementing it, and monitoring compliance? O A. TheEuropean Commission O B. TheEuropean Council O C. TheCourt of Justice O D. TheEuropean Judicial Court QUESTION 40 Which of the following was not one of the purposes of the Single European Act? O A. Remove all frontier controls between EU countries O B. Remove the principle of "mutual recognition" as it pertains to product standards OC. Open public procurement to nonnational suppliers O D. Lift barriers to competition in the EC's retail banking and insurance businesses QUESTION 41 Currently, the euro is being used by member states of the European Union.(closest number) O A. 19 О В. 10 О С. 33 O D. All EU members QUESTION 42 For participating countries, a drawback of a single currency in Europe is that O A. costs for doing business will increase. O B. itwill be more difficult to attract imports. O C. national authorities will lose control over monetary policy. O D. itwill be more difficult to compare prices across Europe. QUESTION 43 Which of the following countries is both member of the EU but has not yet joined the Euro and Euro Zone of the EU? O A. Turkey O B. Denmark O C. Switzerland O D. Norway QUESTION 44 According to the textbook, one likely short-term effect of NAFTA was that many U.S. and Canadian firms will move some production to Mexico to take advantage of O A. cheaper transportation costs. O B. lower interest rates. O C. lower labor costs. O D. ahigher skilled labor force. QUESTION 45 After the first decade of NAFTA, a study concluded that the overall effect of the agreement was: O A. negative and significant. O B. negative and small. O C. positive and significant. O D. positive and small. QUESTION 46 The was formed in 1969 when Bolivia, Chile, Ecuador, Columbia, and Peru signed the Cartagena Agreement. O A. Andean Pact O B. Bolivian Pact O C. NWSouth America Group O D. South American Federation of Independent States QUESTION 47 The customs union CARICOM applies to: O A. East Asian nations. O B. Middle Eastern nations. O C. Central American nations. O D. Caribbean nations. QUESTION 48 The inability of O A. Mexico to attract greater investment is in part a reflection of the political unrest, armed conflict, and frequent changes in economic policy in the region. O B. Europe O C. Canada O D. Africa QUESTION 49 The United States, Japan, and China are among members of a trade organization referred to as O A. AAFTC (American Asian Free Trade Congress). O B. APEC (Asia Pacific Economic Cooperation). OC. USAEU (United States Asian Economic Union). O D. ANAEPC (Asian-North American Economic and Political Coop).
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