International Marketing Chapter 3

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12 Questions - Developed by: Carlos - Developed on: - 9.911 taken

  • 1
    Greece is not the only European country that is in economic crisis. All of the following countries are facing problems in that region except:
  • 2
    The World Trade Organization, which came into existence on January 1, 1995, is the successor of another organization with the abbreviation:
  • 3
    The form of economic cooperation that calls for 1) eliminating internal barriers to trade and 2) establishing common external barriers is known as a(n) ________.
    Free trade area
    Customs union
    Common market
    Free trade area
    Economic union
  • 4
    As a result of CFTA, the U.S. automakers participate in the Canadian auto market, thereby benefiting due to:
    Decreased production costs.
    Ease of exporting automobiles.
    Greater economies of scale.
    Creating a continental demand.
    Reduced competition.
  • 5
    The form of economic cooperation that calls for countries to eliminate all internal barriers to trade among themselves even while maintaining independent trade policies vis-à-vis third countries is known as a(n) ________.
    None of the above
    Economic union
    Customs union
    Free trade area
    Common market
  • 6
    NAFTA creates a free trade area in North America. However, Mexican avocado growers:
    None of the above
    Cannot hire illegal immigrants.
    Cannot impose tariffs of their own.
    Have no quotas for the quantity of avocados shipped to the U.S.
    Can only ship avocados to the U.S. in winter months.
  • 7
    The highest level in the pyramid of hierarchy of Preferential Trade Agreements consists of:
    Common market.
    Economic union.
    Customs union.
    Free trade area.
    European Union.
  • 8
    The Maastricht Treaty called for:
    Chile's acceptance into Mercosur.
    The purchase of CDs and tapes from distributors in Europe.
    The creation of an economic and monetary union (EMU) in Europe.
    The creation of an Asia Free Trade Area (AFTA).
    The creation of the seven-nation European Free Trade Association (EFTA).
  • 9
    The introduction of the euro by EU resulted in multifaceted advantages which include:
    Elimination of paper currency and coins.
    Elimination of costs associated with currency conversion.
    Withdrawal of French Francs from circulation.
    Fixed exchange rate worldwide.
    A choice for using local or European currency.
  • 10
    The Gulf Cooperation Council (GCC) includes all of the following countries except:
    Saudi Arabia.
  • 11
    The member of the Gulf Cooperation Council (GCC) with the largest economy and population size is:
    Saudi Arabia.
  • 12
    In spite of having about 45% of the world's known oil reserves, Saudi Arabia and other Middle Eastern countries post current-account deficits, largely because:
    New businesses are being developed.
    Of vast economic diversification.
    Of poor accounting practices.
    Most of the oil is exported.
    They must import most of the goods and services.

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