Which of the following refers to a current activity of NATO?
a. peacekeeping in Afghanistan
b. collaborating closely with the EU for security purposes
c. fighting Soviet expansion
d. establishing democracy in Germany
e. incineration without representation
Why did the euro not work for trade during the 1990s?
a. It had no single political authority.
b. It included transaction costs.
c. It did not allow for easy currency change.
d. It was never a reserve currency.
e. It was unable to balance taxes and government spending.
Which of the following is an example of countries both lowering their tariffs to each other and building a common tariff toward the outside world?
a. NAFTA
b. original EEC
c. EU
d. KFOR
e. Zollverein
Which of the following statements pertaining to trade blocs is true?
a. An outward looking trade bloc is open to foreign competition and provides rising living standards.
b. The theory of comparative advantage does not work as it creates inefficiency.
c. Australia and New Zealand have the most inefficient farms in the world as they
subsidize a lot.
d. The United States has had a peaceful and calm relationship with the EU concerning
trade issues.
e. A positive trade relationship with U.S has been the major concern and duty for Europe.
Which of the following was successful in helping to propel West Europe out of its postWorld War II slump?
a. the European Coal and Steel Community
b. the Kosovo Force
c. the North American Free Trade Agreement
d. the North Atlantic Treaty Organization
e. the European Central Bank
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