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Regional Trading Arrangements

Criticisms against the North American Free Trade Agreement include all of the following except ?

Economics Mcqs, Regional Trading Arrangements /
Criticisms against the North American Free Trade Agreement include all of the following except ?

A. wages in the United States will rise relative to Mexican wages
B. American jobs will be lost to workers in Mexico
C. The environment is not adequately protected by NAFTA
D. None of the above

Criticisms against the North American Free Trade Agreement include all of the following except ? Read More »

Economics Mcqs, Regional Trading Arrangements

Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?

Economics Mcqs, Regional Trading Arrangements /
Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?

A. relatively high; relatively large
B. relatively high; relatively small
C. relatively low ; relatively large
D. relatively low ; relatively small

Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________? Read More »

Economics Mcqs, Regional Trading Arrangements

_________ is said to exist when the formation of a regional trading group leads to an expansion of trade above pregroup levels ?

Economics Mcqs, Regional Trading Arrangements /
_________ is said to exist when the formation of a regional trading group leads to an expansion of trade above pregroup levels ?

A. trade creation
B. trade diversion
C. trade exclusion
D. trade distortion

_________ is said to exist when the formation of a regional trading group leads to an expansion of trade above pregroup levels ? Read More »

Economics Mcqs, Regional Trading Arrangements

________ is said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries in favor of member countries ?

Economics Mcqs, Regional Trading Arrangements /
________ is said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries in favor of member countries ?

A. trade creation
B. trade diversion
C. trade exclusion
D. trade distortion

________ is said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries in favor of member countries ? Read More »

Economics Mcqs, Regional Trading Arrangements

Trade diversion takes place when ?

Economics Mcqs, Regional Trading Arrangements /
Trade diversion takes place when ?

A. a country moves from autarky to free trade
B. a movement to a customs union reduces the costs of trade through standardization economic integration results in a
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

Trade diversion takes place when ? Read More »

Economics Mcqs, Regional Trading Arrangements

The implementation of a common market involves all of the following except ?

Economics Mcqs, Regional Trading Arrangements /
The implementation of a common market involves all of the following except ?

A. elimination of trade restrictions among member countries
B. a common tax system and monetary union
C. prohibition to restriction on factor movements
D. a common tariff levied in imports from nonmembers

The implementation of a common market involves all of the following except ? Read More »

Economics Mcqs, Regional Trading Arrangements