The NAFTA is a ?

Related Mcqs:

1. Members of the EU find that trade creation|| is fostered when their economies are ?

   A. highly competitive B. highly noncompetitive C. small in economic importance D. geographically distant...

2. Which country is not a member of the European Union ?

   A. Spain B. Germany C. France D. Iceland...

3. In free trade A will import ?

   A. 700 units from country C B. 700 units from country C and 600 units from country B C. 600 units from country C D. 600 units from country C and 400 units from country B...

4. If A forms a customs union with B, A will import ?

   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...

5. When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?

   A. trade creation B. trade diversion C. dynamic welfare effects D. comprehensive welfare effects...

6. Trade creation takes place when ?

   A. a country moves from autarky to free trade B. a movement to a customs union reduces the cost of trade through standardization 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...

7. 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...

8. 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...

9. A positive, dynamic effect of economic integration is illustrated by ?

   A. trade diversion effect B. increased monopoly power of firms C. decrease customs costs D. economy-of-scale effect...

10. 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...