15 questions
Brazil is a fully industrialized country.
True
False
The liberalization of trade and investment policies in developing countries are changing the way countries will trade and prosper in the 21st century.
True
False
According to the UN classification, industrially developing countries just entering world trade with relatively low per capita incomes are referred to as more-developed countries.
True
False
In static economies, consumption patterns change rapidly.
True
False
The newly industrialized countries have per capita incomes lower than LDCs.
True
False
Mercosur is a free trade group formed by the United States of America.
True
False
The trend toward privatization is currently a major economic phenomenon in industrialized as well as in developing countries.
True
False
The quality of an infrastructure directly affects a country's economic growth potential.
True
False
Uruguay is a member of NAFTA.
True
False
Mercosur is the largest common-market agreement in the Americas.
True
False
The most basic level of economic integration and cooperation is the geographical local federation (GLF).
True
False
A free trade area (FTA) provides its members with a mass market without barriers to impede the flow of goods and services.
True
False
The European Union is most accurately described as a free trade area.
True
False
The European Union was created when the 12 nations of the European Community ratified the Maastricht Treaty.
True
False
Historically, standards have been used to effectively increase market access.
True
False