Regional Trading Arrangements Mcqs

1.

The implementation of the European Union has ?

A. made it harder for Americans of compete against the Germans in the British market

B. made it easier for Americans to compete against the Germans in the British market

C. made it harder for Americans to compete against the Japanese in the British market

D. made it easier for Americans to compete against the Japanese in the British

Answer & Solution Discuss in Board

2.

The European Union is an example of a/an ?

A. customs union

B. economic union

C. common market

D. free trade area

Answer & Solution Discuss in Board

3.

The European Union has achieved all of the following except ?

A. adopted a common fiscal policy for member nations

B. established a common system of agricultural price supports

C. disbanded all tariffs between its member countries

D. levied common tariffs on products imported from nonmembers

Answer & Solution Discuss in Board

4.

Under the EU’s Common Agricultural Policy, a variable import levy equals the ?

A. amount the which the EU’s support price exceeds the world price

B. amount by which the world price exceeds the EU’s support price

C. support price of the EU

D. world price

Answer & Solution Discuss in Board

5.

Trade creation takes place when ?

A. a country moves from autarky to free trade

B. a movement to a customs union reduces the cost of trade through standardization

C. economic integration results in a movement in product origin to a lower-cost member country

D. economic integration results in a shift in product origin from a lower cost nonmember country to a member country having higher costs

Answer & Solution Discuss in Board

6.

When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?

A. trade creation

B. trade diversion

C. dynamic welfare effects

D. comprehensive welfare effects

Answer & Solution Discuss in Board

7.

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 ?

A. free-trade area

B. customs union

C. common market

D. monetary union

Answer & Solution Discuss in Board

8.

Which level of economic integration best applies to the U.S economy ?

A. free trade area

B. customs union

C. common market

D. monetary union

Answer & Solution Discuss in Board

9.

A ____ is a regional trading bloc in Which member countries eliminate internal trade barriers but maintain existing barriers against countries that are not member ?

A. free trade area

B. customs union

C. common market

D. monetary union

Answer & Solution Discuss in Board

10.

The European Monetary Union is an example of a ?

A. customs union

B. free trade area

C. reciprocal trade agreement

D. monetary union

Answer & Solution Discuss in Board

Practice MCQ Questions and answers on Regional Trading Arrangements Mcqs

1. The implementation of the European Union has ?

Answer & Solution

2. The European Union is an example of a/an ?

Answer & Solution

3. The European Union has achieved all of the following except ?

Answer & Solution

4. Under the EU’s Common Agricultural Policy, a variable import levy equals the ?

Answer & Solution

5. Trade creation takes place when ?

Answer & Solution

6. When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?

Answer & Solution

7. 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 ?

Answer & Solution

8. Which level of economic integration best applies to the U.S economy ?

Answer & Solution

9. A ____ is a regional trading bloc in Which member countries eliminate internal trade barriers but maintain existing barriers against countries that are not member ?

Answer & Solution

10. The European Monetary Union is an example of a ?

Answer & Solution

Read More Section(Economics Mcqs)

1.

The implementation of the European Union has ?

2.

The European Union is an example of a/an ?

3.

The European Union has achieved all of the following except ?

4.

Under the EU’s Common Agricultural Policy, a variable import levy equals the ?

5.

Trade creation takes place when ?

6.

When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?

7.

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 ?

8.

Which level of economic integration best applies to the U.S economy ?

9.

A ____ is a regional trading bloc in Which member countries eliminate internal trade barriers but maintain existing barriers against countries that are not member ?

10.

The European Monetary Union is an example of a ?