Question 1

Which of the following is true about the Secretariat?

Accepted Answer

A)  It is the deliberative body of the UN.
B)  It reviews cases concerning war crimes, genocide, ethnic cleansing, and illegal interference by one country in the affairs of another.
C)  It oversees the operations of the UN and is technically headed by the Secretary-General.
D)  It deals with issues related to peace and security.
E)  It oversees all trustee territories under UN custody.F) A) and E)
G) C) and D)

Question 2

The UN is funded by:

Accepted Answer

A)  permanent members of the Security Council.
B)  member countries' assessments and contributions.
C)  corporate and multinational organizations.
D)  developed countries that are members of the organization.
E)  compulsory contributions made by ordinary people.F) A) and B)
G) All of the above

Question 3

What was the purpose of the North American Free Trade Agreement (NAFTA)?

Accepted Answer

By reducing tariffs and trade barriers, ...

Question 4

The _____ is a political and economic organization that calls for the coordination of a unified military presence in the Middle East in the form of a Peninsula Shield Force.

Accepted Answer

Gulf Coope...

Question 5

The United States, the United Kingdom, Russia, China, and France have permanent representatives in the UN's Security Council.

Accepted Answer

A) True 
 B)False

Question 6

What are the advantages that European Union (EU)enjoys that has led it to become one of the most successful examples of regional economic cooperation?

Accepted Answer

The biggest advantage of European Union ...

Question 7

The _____ provides for the certification process to assure consumers that by purchasing certified diamonds they were not financing war and human rights abuses.

Accepted Answer

Kimberley ...

Question 8

Which of the following statements is true about MERCOSUR?

Accepted Answer

A)  It was established as a regional trade agreement between Peru and Venezuela.
B)  It is a part of the Caribbean Community and Common Market.
C)  It is the world's largest trading bloc.
D)  It was established as an answer to the Andean Community.
E)  It is a South American trade initiative with clear economic and political goals.F) B) and C)
G) A) and B)

Question 9

GATT's initial focus was on non-tariff barriers of trade.

Accepted Answer

A) True 
 B)False

Question 10

The _____ is a series of rules governing trade that were first created in 1947 by 23 countries.

Accepted Answer

A)  Pacific Accord HYPERLINK "http://en.wikipedia.org/wiki/List_of_free_trade_agreements" \l "cite_note-3#cite_note-3" 
B)  G-3 Free Trade Agreement
C)  General Agreement on Tariffs and Trade
D)  Southern Common Market
E)  North American Free Trade AgreementF) A) and B)
G) C) and E)

Question 11

How did the General Agreement on Tariffs and Trade (GATT)promote international trade and commerce?

Accepted Answer

The basic underlying principle of Genera...

Question 12

NAFTA rules state that:

Accepted Answer

A)  organizations from communist countries shall be barred from accessing the markets of the NAFTA region.
B)  at least 50 percent of the employees in an organization should be from the NAFTA region for the organization to have access to the markets of that region.
C)  organizations which do not source labor or capital from the NAFTA region shall not be allowed to enter the market.
D)  at least 50 percent of the net cost of most products must come from or be incurred in the NAFTA region.
E)  the member countries have to establish a common set of trading rules for nonmember countries.F) B) and D)
G) A) and E)

Question 13

The UN works closely with the public sector, which actually carries out the UN's vast amount of services and projects around the world.

Accepted Answer

A) True 
 B)False

Question 14

The national deficit is the amount of borrowing that a country does from either the private sector or other countries.

Accepted Answer

A) True 
 B)False

Question 15

_____ which developed as a result of the Uruguay Round of GATT was designed to be an actual institution charged with the mission of promoting free and fair trade.

Accepted Answer

World Trad...

Question 16

Common market refers to the:

Accepted Answer

A)  kind of economic cooperation wherein members are free to independently determine trade policies with nonmember nations.
B)  type of regional economic cooperation wherein countries adopt common economic policies.
C)  kind of economic cooperation wherein the body regulating the market frames the economic policies of the member countries individually.
D)  type of regional economic cooperation wherein there are no restrictions on the movement of labor and capital between member countries.
E)  geographical region which has economic and other laws that are more free-market-oriented than a country's national laws.F) B) and C)
G) B) and D)

Question 17

The trade meetings of GATT were called rounds in reference to the:

Accepted Answer

A)  number of times that the representatives had to meet to come to a conclusion.
B)  number of ministerial levels in which these meetings were held.
C)  geometrical structure of the GATT headquarters where the meetings took place.
D)  series of meetings among global peers held at a "roundtable."
E)  GATT Director General's habit of rounding off trade figures in the meetings.F) B) and E)
G) A) and B)

Question 18

One of the countries in Latin America with prospects of joining NAFTA after a failed attempt in 1994 is ____.

Accepted Answer

The answer of One of the countries in Latin America...

Question 19

The initial focus of the European Union was on the development of the _____ industries for peaceful purposes.

Accepted Answer

The answer of The initial focus of the European Union...

Question 20

Euro countries refer to those countries that:
a.use the pound as their national currency.
b.are members of the EU.
c.use the euro as their currency.
d.are in Europe but not members of the EU.
have trade agreements with the EU.

Accepted Answer

The answer of Euro countries refer to those countries that:
a.use...

Exam 5: Global and Regional Economic Cooperation and Integration

The _____ provides for the certification process to assure consumers that by purchasing certified diamonds they were not financing war and human rights abuses.

Correct AnswerverifiedKimberley ...View AnswerShow Answer

Which of the following is true about the Secretariat?

Correct AnswerverifiedShow Answer

GATT's initial focus was on non-tariff barriers of trade.

Correct AnswerverifiedShow Answer

How did the General Agreement on Tariffs and Trade (GATT)promote international trade and commerce?

Correct AnswerverifiedThe basic underlying principle of Genera...View AnswerShow Answer

The UN works closely with the public sector, which actually carries out the UN's vast amount of services and projects around the world.

Correct AnswerverifiedShow Answer

The trade meetings of GATT were called rounds in reference to the:

Correct AnswerverifiedShow Answer

Common market refers to the:

Correct AnswerverifiedShow Answer

Which of the following statements is true about MERCOSUR?

Correct AnswerverifiedShow Answer

_____ which developed as a result of the Uruguay Round of GATT was designed to be an actual institution charged with the mission of promoting free and fair trade.

Correct AnswerverifiedWorld Trad...View AnswerShow Answer

What are the advantages that European Union (EU)enjoys that has led it to become one of the most successful examples of regional economic cooperation?

Correct AnswerverifiedThe biggest advantage of European Union ...View AnswerShow Answer

What was the purpose of the North American Free Trade Agreement (NAFTA)?

Correct AnswerverifiedBy reducing tariffs and trade barriers, ...View AnswerShow Answer

The _____ is a series of rules governing trade that were first created in 1947 by 23 countries.

Correct AnswerverifiedShow Answer

The UN is funded by:

Correct AnswerverifiedShow Answer

The United States, the United Kingdom, Russia, China, and France have permanent representatives in the UN's Security Council.

Correct AnswerverifiedShow Answer

Euro countries refer to those countries that: a.use the pound as their national currency. b.are members of the EU. c.use the euro as their currency. d.are in Europe but not members of the EU. have trade agreements with the EU.

Correct AnswerverifiedShow Answer

The national deficit is the amount of borrowing that a country does from either the private sector or other countries.

Correct AnswerverifiedShow Answer

NAFTA rules state that:

Correct AnswerverifiedShow Answer

The initial focus of the European Union was on the development of the _____ industries for peaceful purposes.

Correct AnswerverifiedShow Answer

The _____ is a political and economic organization that calls for the coordination of a unified military presence in the Middle East in the form of a Peninsula Shield Force.

Correct AnswerverifiedGulf Coope...View AnswerShow Answer

One of the countries in Latin America with prospects of joining NAFTA after a failed attempt in 1994 is ____.

Correct AnswerverifiedShow Answer

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Kimberley ...
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The basic underlying principle of Genera...
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World Trad...
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The biggest advantage of European Union ...
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By reducing tariffs and trade barriers, ...
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Gulf Coope...
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