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MGT 302 EXAM 2 QUESTIONS AND ANSWERS | GRADED A

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MGT 302 EXAM 2 QUESTIONS AND ANSWERS Chapter 9 Regional Economic Integration  WTO members are required to _______ the WTO of all trade agreements in which they participate. ...  Regional Economic Integration Helps to reduce trade barriers more quickly.  European Union  The EU is larger than the US in __________ terms.  Countries that use NAFTA: NAFTA Ultimately, this aims to remove all barriers to the free flow of g/s between the US/Mexico/Canada.  Most economists argue that the _______ of greater regional trade ________ any costs.  Fears of Regional Economic Integration  Free Trade Area  Free trade agreements are the most popular form of:  Levels of Economic Integration  European Free Trade Association (EFTA)  Customs Union  Economic Union Free flow of products and FOP among member countries and the adoption of a common external trade policy. Note: this must include a common currency, harmonization of members' tax rates, and common monetary/fiscal policy.  Political Union Central political apparatus coordinates the economic, social, and foreign policy of member states.  Economic theories suggest that free trade and investment is a... positive-sum game  Positive-Sum game  it is easier to establish a a free trade and investment regime among a limited number of adjacent countries than... among a global community  [Show More]

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