Extra Credit 3563

Extra Credit 3563 - International Trade Extra Credit...

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International Trade Extra Credit Assignment Due June 23 rd Name _________________________________ 1________ 16 _______ _ 2________ 17 _______ _ 3________ 18 _______ _ 4________ 19 _______ _ 5________ 20 _______ _ 6________ 21 _______ _ 7________ 22 _______ _ 8________ 23 _______ _
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9________ 24 _______ _ 10________ 25 _______ _ 11________ 26 _______ _ 12________ 27 _______ _ 13________ 28 _______ _ 14________ 29 _______ _ 15________ 30 _______ _ 1. Preferential trade agreements inherently discriminate against countries that do not belong to the agreement and inflict losses on their exporters. This phenomenon is know as: a. Trade deflection. b. Trade creation. c. Trade diversion.
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d. The gains from trade. 2. In order for a preferential trade agreement to be legal under international trade rules: a. it must reduce trade barriers on all agricultural products among member countries. b. it must reduce trade barriers on a substantial proportion of trade among the member countries. c. it must reduce restrictions on the mobility of labor and capital among member countries. d. it must provide a common external tariff for member countries. 3. Which of the following is not a level of economic integration between countries? a. A free-trade area b. A customs union c. A common union d. An economic union 4. What is the major difference between a customs union and a free-trade area? a. Each country replaces its national tariff schedule with a common external tariff under a customs union. b. A customs union usually means a more shallow level of economic integration. c.
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Extra Credit 3563 - International Trade Extra Credit...

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