Question : 111.Which of the following true of the Andean Pact during : 1299357

111.Which of the following is true of the Andean Pact during the mid-1980s?  

A.Tariff-free trade existed between member countries.

B.Harmonization of economic policies between member countries had been achieved.

C.Successful integration of member economies had been achieved.

D.The Pact had failed to achieve the objective of a common external tariff.

E.The dominant political ideology in many of the Andean countries tended toward democracy.

112.The Andean Community now operates as a _____.  

A.common market

B.economic union

C.customs union

D.command economy

E.political union

113._____ refers to the pact among Argentina, Brazil, Paraguay, and Uruguay that originated in 1988 to establish a free trade area.  

A.ASEAN

B.NAFTA

C.Mercosur

D.CARICOM

E.CAFTA

114.Which of the following is true of Alexander Yeats’ criticism of the Andean Pact?  

A.He pointed out that the slowest growing items in intra-Mercosur trade were cars, buses, agricultural equipment, and other capital-intensive goods.

B.He believed that the trade creation effects of Mercosur outweighed its trade diversion effects.

C.He felt that Mercosur countries were prepared to compete globally once the group’s external trade barriers came down.

D.He pointed out that Mercosur countries were insulated from outside competition by tariffs that run as high as 70 percent of value.

E.He felt that capital was being drawn toward more efficient enterprises.

115.Which of the following is a reason why Mercosur was temporarily suspended in 2001?  

A.The dotcom bust in Paraguay

B.An economic crisis in Argentina

C.The exit of Uruguay from the group

D.The devaluation of the Mexican peso

E.The Venezuelan financial crisis

116.The _____ refers to a trade pact among Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, which began in the early 1960s but collapsed in 1969 due to war.  

A.Central American Common Market

B.Free Trade Area of the Americas

C.Caribbean Single Market and Economy

D.Mercosur

E.CARICOM

117.Which of the following led to the collapse of the Central American Common Market in 1969?  

A.Devaluation of the Brazilian currency by 40 percent

B.Coup in Nicaragua that led to the overthrow of the incumbent regime

C.War between Honduras and El Salvador after a riot at a soccer match between teams from the two countries

D.Withdrawal from the trade arrangement by Costa Rica

E.Collapse of monetary policy between Costa Rica and El Salvador

118.The agreement of the member-states of the Central American Common Market joined by the Dominican Republic to trade freely with the United States is known as _____.  

A.Central American Free Trade Agreement

B.Central American Common Market

C.Free Trade Area of the Americas

D.CARICOM

E.Caribbean Single Market and Economy

119.Which of the following is the aim of the Central America Free Trade Agreement?  

A.Lowering of trade barriers between the United States and the Central American Common Market countries

B.Elimination of trade barriers between the CARICOM and Central American Common Market countries

C.Reduction of trade barriers between Caribbean Single Market and Economy nations and Central American Common Market countries

D.Introduction of a common currency for Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua

E.Reductions in tariffs and quotas between Costa Rica, Dominican Republic, and Nicaragua

120.Which of the following refers to an association of English-speaking Caribbean states that are attempting to establish a customs union?  

A.CARICOM

B.Central American Free Trade Agreement

C.Central American Common Market

D.Free Trade Area of the Americas

E.Caribbean Single Market and Economy