Question 1

Of the following, which is NOT a cost of regional integration?

Accepted Answer

A)  Moving away from most-favored-nation status rule
B)  Disregarding cultural and social differences
C)  Losing some national sovereignty
D)  Reducing the powers of the national government
E)  Enhancing the flow of capital, labor, and technology

Question 2

The union created when member countries of an economic and monetary union work closely with one another to arrive at common defense and foreign policies and behave as a single country is known as a(n) _____.

Accepted Answer

A)  customs union
B)  economic union
C)  free trade area
D)  common market
E)  political union

Question 3

In which country  is the EU headquartered?

Accepted Answer

A)  Belgium
B)  France
C)  Germany
D)  Italy
E)  Turkey

Question 4

Of the following statements regarding the euro, which is NOT true?

Accepted Answer

A)  The U.K., Denmark, and Sweden use the euro as their currency.
B)  The euro was introduced on January 1, 1999.
C)  Eighteen of the 28 EU countries are permitted to use the euro as their currency.
D)  The euro was considered the crowning success of the EU's plans to integrate European economies.
E)  The European Central Bank is the apex central bank for the Eurozone countries.

Question 5

The process of allowing efficient geographic distribution of business activities within and among countries refers to _______.

Accepted Answer

spatial tr...

Question 6

With the anticipated success of NAFTA, formal discussions to establish a Free Trade Area of the Americas began under the _____ administration.

Accepted Answer

A)  Obama
B)  Bush
C)  Clinton
D)  Reagan
E)  Carter

Question 7

All of the following statements about the EU are true EXCEPT:

Accepted Answer

A)  it is headquartered in Brussels.
B)  it is the most highly evolved example of regional integration in the world.
C)  its founding members consisted of ten countries.
D)  its origins can be traced to the creation of the European Coal and Steel Community.
E)  its eastward enlargement reflects a common past.

Question 8

Both common markets and economic unions abolish restrictions on factor movements.

Accepted Answer

A) True 
 B)False

Question 9

Of the following statements about regional blocs close to major world markets, which is NOT true?

Accepted Answer

A)  The ASEAN is intensifying its free trade relations with the huge markets in China.
B)  India, Japan, and South Korea play an important role in the SAARC.
C)  Access to markets is essential for economic growth.
D)  The oil-rich regional economy of the Middle East and North Africa has been growing fast and creating jobs for its population.
E)  Countries close to major markets have the advantage of connecting to suppliers and ideas.

Question 10

ASEAN's current membership stands at how many countries?

Accepted Answer

A)  5
B)  10
C)  2
D)  25
E)  30

Question 11

The study of principles that govern the efficient spatial allocation of economic resources and the resulting consequences refers to _____.

Accepted Answer

The answer of The study of principles that govern the...

Question 12

According to the text, which of the following is the second stage of regional integration?

Accepted Answer

A)  A customs union
B)  An economic union
C)  A free trade area
D)  A common market
E)  A political union

Question 13

How does ASEAN differ from the EU?

Accepted Answer

A)  It does not call for the free movement of labor across member states.
B)  It maintains both tariff and non-tariff barriers among member states.
C)  It calls for the establishment of a single market.
D)  It calls for the establishment of a production base.
E)  It refuses to do business with non-member states.

Question 14

​As a means to push NAFTA south of Mexico, the Bush administration began free-trade talks with all of the following countries EXCEPT

Accepted Answer

A)  ​Costa Rica.
B)  ​Honduras.
C)  ​the Dominican Republic.
D)  ​Haiti.
E)  ​Nicaragua.

Question 15

Which one of the following is not considered a main objective of the regional bloc affecting Lynette?

Accepted Answer

A)  To accelerate economic growth
B)  To increase cultural development in the region
C)  To encourage regional peace
D)  To diminish relationships with major powers
E)  To promote stability through the rule of law

Question 16

The Lynette Company's plan to continue its operations within the Asia market offers many benefits as well as challenges.  Which one of the following would provide the least degree of challenge for the stability of this company's business operations?

Accepted Answer

A)  Development of a free trade agreement with China
B)  The economic rise of China  
C)  Ability to tap China's declining business market
D)  Job loss prevention through a free trade agreement with China
E)  Ability to tap China's growing consumer market

Question 17

What is the goal of the ASEAN Security Community (ASC) ?

Accepted Answer

A)  To ensure that countries in the region live in peace with one another
B)  To come to the aid of member nations in time of war
C)  To ensure that the ASEAN workforce is prepared to benefit from economic integration
D)  To oversee the construction of roads and railways between member nations
E)  To use the military to ensure the free flow of goods across borders

Question 18

A(n)________ union is created when member countries of an economic and monetary union work closely with one another to arrive at common defense and foreign policies and behave as a single country.

Accepted Answer

The answer of A(n)________ union is created when member countries...

Question 19

A growing ASEAN concern is the economic ascendancy of Turkey, which as a major low-cost manufacturing center, has been one of the world's most attractive destinations for foreign direct investment.

Accepted Answer

A) True 
 B)False

Question 20

The newest member of the EU is _____.

Accepted Answer

A)  Bulgaria
B)  Malta
C)  Russia
D)  Turkey
E)  Croatia

Exam 3: Regional Economic Integration

The study of principles that govern the efficient spatial allocation of economic resources and the resulting consequences refers to _____.

Correct AnswerverifiedShow Answer

ASEAN's current membership stands at how many countries?

Correct AnswerverifiedShow Answer

The Lynette Company's plan to continue its operations within the Asia market offers many benefits as well as challenges. Which one of the following would provide the least degree of challenge for the stability of this company's business operations?

Correct AnswerverifiedShow Answer

The union created when member countries of an economic and monetary union work closely with one another to arrive at common defense and foreign policies and behave as a single country is known as a(n) _____.

Correct AnswerverifiedShow Answer

Of the following statements about regional blocs close to major world markets, which is NOT true?

Correct AnswerverifiedShow Answer

With the anticipated success of NAFTA, formal discussions to establish a Free Trade Area of the Americas began under the _____ administration.

Correct AnswerverifiedShow Answer

A growing ASEAN concern is the economic ascendancy of Turkey, which as a major low-cost manufacturing center, has been one of the world's most attractive destinations for foreign direct investment.

Correct AnswerverifiedShow Answer

Of the following, which is NOT a cost of regional integration?

Correct AnswerverifiedShow Answer

Both common markets and economic unions abolish restrictions on factor movements.

Correct AnswerverifiedShow Answer

The newest member of the EU is _____.

Correct AnswerverifiedShow Answer

A(n)________ union is created when member countries of an economic and monetary union work closely with one another to arrive at common defense and foreign policies and behave as a single country.

Correct AnswerverifiedShow Answer

What is the goal of the ASEAN Security Community (ASC) ?

Correct AnswerverifiedShow Answer

​As a means to push NAFTA south of Mexico, the Bush administration began free-trade talks with all of the following countries EXCEPT

Correct AnswerverifiedShow Answer

In which country is the EU headquartered?

Correct AnswerverifiedShow Answer

How does ASEAN differ from the EU?

Correct AnswerverifiedShow Answer

Which one of the following is not considered a main objective of the regional bloc affecting Lynette?

Correct AnswerverifiedShow Answer

All of the following statements about the EU are true EXCEPT:

Correct AnswerverifiedShow Answer

According to the text, which of the following is the second stage of regional integration?

Correct AnswerverifiedShow Answer

Of the following statements regarding the euro, which is NOT true?

Correct AnswerverifiedShow Answer

The process of allowing efficient geographic distribution of business activities within and among countries refers to _______.

Correct Answerverifiedspatial tr...View AnswerShow Answer

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As a means to push NAFTA south of Mexico, the Bush administration began free-trade talks with all of the following countries EXCEPT

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