________ 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
A. trade creation
B. trade diversion
C. trade exclusion
D. trade distortion
A. $0
B. $10,000
C. $20,000
D. $40,000
If A forms a customs union with C, the value of trade diversion will be ? Read More »
Economics Mcqs, Regional Trading Arrangements A. 400 units from B
B. 200 units from C
C. 200 units from each
D. 400 units from B and 200 units from C
If A imposes a per unit tariff of $10 on imports from both B and C A will import ? Read More »
Economics Mcqs, Regional Trading Arrangements 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 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 A. dollar
B. mark
C. franc
D. euro
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 A. customs union
B. economic union
C. common market
D. free trade area
The European Union is an example of a/an ? Read More »
Economics Mcqs, Regional Trading Arrangements 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
The European Union has achieved all of the following except ? Read More »
Economics Mcqs, Regional Trading Arrangements 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