Which of the following is true with regard to regional economic integration?
A)Agreements designed to promote freer trade within regions have failed to produce gains from trade for all member countries.
B)World Trade Organization members are not required to notify the organization of any regional trade agreements in which they participate.
C)Regional economic integration is good for consumers because it lowers prices.
D)Regional economic integration benefits producers because they do not have to adapt to a more competitive environment.
E)The movement toward regional economic integration has been most successful in Asia.

Question

Quizplus · Accepted Answer

Regional economic integration typically leads to lower tariffs and reduced trade barriers, which can result in lower prices for consumers.

Answer: B 
 WTO members are required to notify the organization of any regional trade agreements they participate in.

Answer: E 
 Regional economic integration has been successful in Asia, particularly with the establishment of the ASEAN Free Trade Area and the ASEAN Economic Community.

Answers A and D are incorrect as they make inaccurate statements.

Which of the Following Is True with Regard to Regional