Hannah Nad
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Quiz on Trading blocs questions, created by Hannah Nad on 18/01/2017.

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Hannah Nad
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Trading blocs questions

Question 1 of 7

1

In a free trade area there is....

Select one or more of the following:

  • No internal trade barriers

  • A common external tariff

  • Factor and asset mobility

  • Common currency

  • Common economic policy

Explanation

Question 2 of 7

1

In a single market there is...

Select one or more of the following:

  • No internal trade barriers

  • A common external tariff

  • Factor and asset mobility

  • Common currency

  • Common economic policy

Explanation

Question 3 of 7

1

What is present in a single market but not a customs union?

Select one of the following:

  • Factor asset mobility

  • Common external tariff

  • Common economic policy

Explanation

Question 4 of 7

1

Poorer countries that are members of the EU, such as Romania and Bulgaria, pay less into the EU budget compared to countries with a higher level of GDP (e.g. France and Germany)

Select one of the following:

  • True
  • False

Explanation

Question 5 of 7

1

The ASEAN (Association of South-East Asian Nations) is an example of an example of a single market

Select one of the following:

  • True
  • False

Explanation

Question 6 of 7

1

Which of these is NOT one of the four key-freedoms of the EU?

Select one or more of the following:

  • Free trade in goods

  • Mobility of labour

  • Free movement of capital

  • Free trade in services

  • Identical product standards

Explanation

Question 7 of 7

1

Which one of these are NOT a convergence criteria to join the euro

Select one or more of the following:

  • Relatively similar inflation rates (+/- 1.5 than current members)

  • Relative stable exchange rate

  • Sound government finances (not more than 60% of GDP, 3% of annual GDP)

  • Interest rate convergence (not more than 2% higher than members)

  • Trend growth of GDP (no more than a 5% difference in GDP)

Explanation

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