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________ 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

The implementation of the European Union has ?

Economics Mcqs, Regional Trading Arrangements /
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

The implementation of the European Union has ? Read More »

Economics Mcqs, Regional Trading Arrangements

The European Union has achieved all of the following except ?

Economics Mcqs, Regional Trading Arrangements /
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

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Economics Mcqs, Regional Trading Arrangements

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

Economics Mcqs, Regional Trading Arrangements /
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

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

Economics Mcqs, Regional Trading Arrangements