Chapter:

Regional Economic Grouping Solved MCQs

in International Business

Chapters

16.4k

Chapter: Regional Economic Grouping

Done Reading?

Regional Economic Grouping Solved MCQs

The basic objective of export Promotion Council is to promote and develop the Exports of the

The main promoter of trade liberalization was

_______________ is an important reason for economic integration.

In which of the following types of regional economic integration are internal tariffs eliminated with member countries levying a common external tariff on goods being imported from nonmembers.

A _______________ focuses on eliminating internal tariffs with member countries levying a common external tariff on goods being imported from nonmembers. Additionally, this type of regional economic integration allows free mobility of production factors such as labor and capital.

_______________ occurs when production shifts to more efficient producers for reasons of comparative advantage, allowing consumers access to more goods at a lower price than would have been possible without integration.

Which of the following was developed with the rationale that the U.S.-Canadian trade was the largest bilateral trade in the world and that the United States is Mexico’s and Canada’s largest trading partner?

_______________ occurs when trade shifts to countries in the group at the expense of trade with countries not in the group, even though the nonmember country might be more efficient in the absence of trade barriers.

NAFTA calls for all of the following EXCEPT:

NAFTA is a good example of:

Where is the headquarters of the EU?

Apart from India, Pakistan and Bangladesh who are the other member countries of SAARC?

Which of the following is not the main purpose for formation of SAARC

SAPTA is a trade agreement by _________________

What is the full form of ASEAN?

The European Union is a free trade association that is based on a(n)

Which one of the following has a single currency managed by a common central bank?

Which one of the following is renowned for its high-quality databases on economic and social data?

A _______________ focuses on eliminating internal tariffs with member countries levying a common
external tariff on goods being imported from nonmembers. Additionally, this type of regional economic
integration allows free mobility of production factors such as labor and capital.

_______________ occurs when production shifts to more efficient producers for reasons of
comparative advantage, allowing consumers access to more goods at a lower price than would have
been possible without integration.

_______________ occurs when trade shifts to countries in the group at the expense of trade with
countries not in the group, even though the nonmember country might be more efficient in the absence
of trade barriers.