BAR09F.Midtm2b.IE

BAR09F.Midtm2b.IE - PRACTICE PROBLEMS FOR...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
PRACTICE PROBLEMS FOR MID-TERM #2 [BAR09F.Midtm2b.IE] 2.Which of the following represents the stage where economic integration is most complete? a. Economic union b. Customs union c. Monetary union d. Common market ANS: C PTS: 1 25. When the formation of a free trade area results in the reduction of trade with nonmember nations in favor of member countries, ____ occurs. a. Trade devaluation b. Trade revaluation c. Trade creation d. Trade diversion ANS: D PTS: 1 Figure 8.1. Effects of a Customs Union 37. Consider Figure 8.1. The value of the trade creation effect, resulting from the Greece/France customs union, equals: a. $5 b. $10 c. $15 d. $20 ANS: B PTS: 1 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
38. Consider Figure 8.1. Comparing the trade creation and trade diversion effects, the impact of the Greece/France customs union on the welfare of Greece is: a. A $5 increase in economic welfare b. A $10 increase in economic welfare c. A $5 decrease in economic welfare d. No change in economic welfare ANS: D PTS: 1 53.In the United States, which group was most likely to be hurt by the North American Free Trade
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/17/2011 for the course ECON 3250 taught by Professor Shaw during the Spring '11 term at CUNY Baruch.

Page1 / 5

BAR09F.Midtm2b.IE - PRACTICE PROBLEMS FOR...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online