Arizona State University

ECN 306

Quiz 9.1

1)One of the primary concerns in the United States about entering into NAFTA was that:

 

 

2. What effect does a trade bloc have on scales of production?

 

 

3. When countries band together and agree that they can import from each other freely while imposing import barriers against countries that are not part of the group, those countries have formed a:

 

 

4. Through the 1980s, the European Common Market (now known as the European Union) was not truly a common market because:

 

 

5. If a firm has a monopoly in the market in its country, what happens to that monopoly when that country becomes part of a trade bloc?

 

 

6. When a country imposes economic sanctions in the form of discriminatory restrictions on economic exchanges with a specific country, those economic sanctions are called:

 

 

7.                                               is the most prominent trade bloc of developing countries.

 

 

8. Trade blocs can attract more foreign direct investment into member countries because:

 

 

9. The primary difference between a free trade area and a customs union is that:

 

 

10.                                               has eliminated nearly all tariffs and many nontariff barriers to trade within the U.S.-Canada-Mexico trade area.