Question 1

The _____ refers to an economic trade agreement that specifically allowed Iceland, Liechtenstein, and Norway to participate in the EU's single market without a conventional EU membership.

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Question 2

The initial focus of the European Union was on the development of the _____ industries for peaceful purposes.

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Question 3

What are the advantages that European Union (EU) enjoys that has led it to become one of the most successful examples of regional economic cooperation?

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Question 4

What are the institutions of the European Union (EU) that help the member countries to closely cooperate and coordinate key aspects of their economic policy?

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Question 5

The only exception to the GATT agreement to limit or remove trade barriers were export subsidies for _____ products.

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Question 6

_____ which developed as a result of the Uruguay Round of GATT was designed to be an actual institution charged with the mission of promoting free and fair trade.

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Question 7

What is the UN Global Compact?

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Question 8

A tariff reduction, which was applicable to both the countries, was agreed upon by country A and country B.In such a case, the countries are according the _____ status to each other.

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Question 9

The _____ provides for the certification process to assure consumers that by purchasing certified diamonds they were not financing war and human rights abuses.

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Question 10

The _____ program of the United Nations helps to advance sustainable business models and markets in order to contribute to the initiative's overarching objective of helping to build a more sustainable and inclusive global economy.

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Question 11

How did the General Agreement on Tariffs and Trade (GATT) promote international trade and commerce?

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Question 12

What is the World Trade Organization (WTO)?

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Question 13

The _____ has more member countries than the EU, NAFTA, and APEC but represents a substantially smaller portion of global trade than these other cooperatives.

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Question 14

The _____ refers to the 10 principles that businesses around the world need to follow in order to become good global corporate citizens and to satisfy the objectives of consumers, suppliers, and investors as well as government and nongovernment entities.

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Question 15

The _____ is a political and economic organization that calls for the coordination of a unified military presence in the Middle East in the form of a Peninsula Shield Force.

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Question 16

The United Nations (UN) was formed in 1945 at the end of World War II to replace the ______.

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Question 17

The concept of the most-favored-nation status as was established by the WTO has eased into a new principle called _____ due to the large number of countries that are following this practice.

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Question 18

The biggest change from GATT to the WTO was the provision for the _____.

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Question 19

The _____ provides the political leadership for the EU.

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Question 20

_____ are diamonds that originate from areas controlled by forces or factions opposed to legitimate and internationally recognized governments, and are used to fund military action in opposition to those governments.

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Quiz 5: Global and Regional Economic Cooperation and Integration