1.Which of the following is a positive effect of regional tradeagreements?

A.

Trade diversion

B.

Political remapping

C.

Trade creation

D.

increased consumer savings

E.

Shifts in employment

2.Which of the following is a negative effect of regional tradeagreements?

A.

Political cooperation

B.

Cultural homogenization

C.

Trade creation

D.

Employment opportunities

E.

Loss of national sovereignty

3.Which of the following is a main regional tradingbloc?

A.

Association of Pacific Nations

B.

European Union

C.

Atlantic Free Trade Agreement

D.

Asian Common Market

E.

United Nations

4.Which of the following is a criterion for member nations to use the euro as outlined in the MaastrichtTreaty?

A.

A level of debt no greater than40% of GDP

B.

A level of government deficit no greater than1.5% of GDP

C.

A level of inflation no greater than3.2%

D.

Interest rates onlong-term government debt of no more than2%

E.

A lack of price transparency

5.The structure of the EU includes which one of thefollowing?

A.

Council of the EU

B.

European Congress

C.

European Advisoru Board

D.

European Supreme Court

E.

European Free Trade Association(EFTA)

6.Candidates for EU membership become members after they meet certain demands. Which one of the following is one of thosedemands?

A.

Adoption of independent rules and regulations

B.

Adopting an EU culture

C.

Adherence to the aims ofeconomic, monetary, and political union

D.

Stable institutions that guaranteedemocracy, rule oflaw, and human rights

E.

A functioning command economy

7.Which one of the following is a reason that some European countries did not join theEU?

A.

They feared destructive rivalries and loss of national sovereignty.

B.

They wanted all European countries to have the same culture.

C.

Theydidn't want increased trade.

D.

Theydon't want to increase tourism.

E.

They wanted to use the euro.

8.Which of the following is a provision ofNAFTA?

A.

Adding new countries to the European Union

B.

Common accounting rules

C.

Membership in the World Trade Organization

D.

Elimination of tariffs on goods originating within North America

E.

Adoption of the dollar as a common currency

9.Criteria that determine whether a good meets NAFTA rules of origin include which one of thefollowing?

A.

Goods containingnon-originating inputs but carry a certificate of origin from an EU country

B.

Goods produced in the NAFTA region from natural materials from the western hemisphere

C.

Goods wholly produced or obtained in the NAFTA region

D.

Unassembled goods containingsub-assemblies fromNicaragua, Panama, or Honduras

E.

Goods using materials sourced in China

10.Which of the following is an effect ofNAFTA?

A.

The United States exports more to Mexico.

B.

NAFTA has created jobs in the United States.

C.

Trade amongCanada, the UnitedStates, and the European Union has increased.

D.

Mexico's exports to the United States have declined.

E.

The United States has developed a trade deficit with Great Britain and Germany.

11.Which one of the following is a trade bloc in theAmericas?

A.

EU

B.

GCC

C.

AU

D.

CER

E.

CAFTA-DR

12.Which of the following statements about ASEAN isTRUE?

A.

ASEAN serves as a forum to address human rights violations.

B.

ASEAN seeks to counterChina's risingstrength, resources of cheaplabor, and abundant raw materials.

C.

ASEAN seeks to promote democracy in Southeast Asia.

D.

ASEAN consists of five countries.

E.

ASEAN was formed in 1957.

13.Which one of the following is a fact about ASEAN that warrantsconsideration?

A.

Political stability

B.

Corruption and shadow markets

C.

Homogeneous cultures and politics

D.

Common tariffs and standards

E.

Economic cooperation

14.Which one of the following describes Asia Pacific Economic Cooperation(APEC)?

A.

APEC does not want to have free trade and investment throughout the region.

B.

APEC wants to simplify and harmonize customs procedures.

C.

The stated aim of APEC is to build a trading bloc.

D.

APEC has 12 members.

E.

APEC wants to dominate world trade.

15.Which one of the following is an area of progress for The Economic Community of West African States(ECOWAS)?

A.

Goal-setting

B.

Development of international telecommunication links

C.

Construction of national roads

D.

Freedom of travel within eachmembers' borders

E.

Market integration

16.Which one of the following statements describes the African Union(AU)?

A.

The AU envisions continent of separate and independent states but allowing for the redrawing of borders to accommodate tribal movements.

B.

The AU aims to attract more foreign direct investment to each member nation.

C.

The AU aims to continue the policies of colonialism.

D.

The aim of the AU is to remove vestiges of colonialism and apartheid.

E.

On the Africancontinent, 35 nations created the African Union(AU).

17.Which one of the following statements about the Gulf Cooperation Council(GCC) isTRUE?

A.

The goals of the GCC are purely economic.

B.

Yemen, Iran, and Iraq are members.

C.

The primary purpose was to cooperate with the EU and EFTA.

D.

GCC was formed in 2014.

E.

Citizens of the EU can travel freely in the GCC without visas.

18.Which organization of Asian countries also includes the UnitedStates?

A.

The Southern Common Market

B.

The Free Trade Area of the Americas

C.

The Association of Southeast Asian Nations

D.

The Australian and New Zealand Closer Economic Relations Agreement

E.

The organization for Asia Pacific Economic Cooperation

19.Which one of the following is a problem facing Economic Community of West African States(ECOWAS)?

A.

Good economic policies

B.

Strong national economies

C.

Independent governments

D.

Political instability

E.

Adequate infrastructure

20.Which one of the following describes the Closer Economic Relations(CER) Agreement?

A.

The CER maintains tariffs and quotas between Australia and New Zealand.

B.

The CER limits free trade and separates the two economies.

C.

Goods cannot be sold within the othercountry's borders.

D.

Professionals cannot practice their occupation in the other country.

E.

Australia and New Zealand created a free trade agreement in 1966.