Reference no: EM132838443

Q1. Regional Trade Blocs are often known as:

Select one:

a. R.I.As

b. G.A.T.Ts

c. W.T.Os

d. C.I.As

Q2. Which of the following is not a example of a regional integration agreement?

Select one:

a. MERCOSUR

b. NAFTA

c. WTO

d. ASEAN

Q3. Which of the following is not a example of a regional integration agreement.

Select one or more:

a. Security

b. Enhanced bargaining power

c. Access to lower cost raw materials

d. Larger market for firms to exploit

e. Lock-in

Q4. A number of potential economic impacts have been identified for regional agreements.

One of these is the "scale and competition" effect, which relates to:

Select one:

a. Large scale businesses are removed from the market, thus reducing competition.

b. Firms can benefit from economies of scale as a result of the larger market available.

c. Reduced competition in the larger market-place allows firms to increase the scale of their production.

d. Small scale businesses can thrive in the new, enlarged market.

Q5. A number of potential economic impacts have been identified for regional agreements. One of these is the "trade and location" effect, which relates to:

Select one:

a. The reduction in tariffs within a regional agreement which induces purchasers to switch demand toward supply from partner countries.

b. Producers from around the world are attracted to locate in the region as a result of the enlarged market available.

c. Consumers will buy goods from within the region rather than from the global market.

d. Firms in the region will relocate out of the market to avoid the increased competition.

Q6. The "trade and location" effect of a regional agreement is always positive.

Select one:

True

False

Q7. The 'depth' of a regional agreement refers to the extent or depth of the economic and political integration between the member countries.

Select one:

True

False

Q8. The moves towards Economic Union in the E.U. represent a 'deepening' of the relationship between the member states.

Select one:

True

False

Q9. 'Deepening' the E.U. is likely to have implications for the sovereignty of member countries.

Select one:

True

False

Q10. A key feature of all regional integration agreements is a 'common external tariff'.

Select one:

True

False