Trading blocs questions

Description

Quiz on Trading blocs questions, created by Hannah Nad on 18/01/2017.
Hannah Nad
Quiz by Hannah Nad, updated more than 1 year ago
Hannah Nad
Created by Hannah Nad about 7 years ago
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Resource summary

Question 1

Question
In a free trade area there is....
Answer
  • No internal trade barriers
  • A common external tariff
  • Factor and asset mobility
  • Common currency
  • Common economic policy

Question 2

Question
In a single market there is...
Answer
  • No internal trade barriers
  • A common external tariff
  • Factor and asset mobility
  • Common currency
  • Common economic policy

Question 3

Question
What is present in a single market but not a customs union?
Answer
  • Factor asset mobility
  • Common external tariff
  • Common economic policy

Question 4

Question
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)
Answer
  • True
  • False

Question 5

Question
The ASEAN (Association of South-East Asian Nations) is an example of an example of a single market
Answer
  • True
  • False

Question 6

Question
Which of these is NOT one of the four key-freedoms of the EU?
Answer
  • Free trade in goods
  • Mobility of labour
  • Free movement of capital
  • Free trade in services
  • Identical product standards

Question 7

Question
Which one of these are NOT a convergence criteria to join the euro
Answer
  • 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)
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