58. Which of the following are the two impediments to regional economic integration?
59. Which of the following is an example of concerns over national sovereignty acting as an
impediment to regional economic integration?
60. _____ occurs when high-cost domestic producers are replaced by low-cost producers
within a free trade area.
61. _____ occurs when higher-cost external producers are replaced by lower-cost external
producers within the free trade area?
62. _____ occurs when lower-cost external suppliers are replaced by higher-cost suppliers
within a free trade area.
63. A regional free trade agreement will benefit the world only if:
64. The country of Argonia and the country of Berylia imposed tariffs on imports from all
countries. They set up a free trade area, removing all trade barriers between themselves but
maintaining tariffs on imports from the rest of the world. Argonia now begins to import sugar from
Berylia. Previously, Argonia was indigenously producing sugar at a higher cost. Thus, Argonia
benefits from this transaction. This is known as _____.
65. Suppose the country of Ceria and Lithinia imposed tariffs on imports from all countries,
and then they set up a free trade area, scrapping all trade barriers between themselves but
maintaining tariffs on imports from the rest of the world. Now, Ceria begins to import sugar from
Lithinia. However, Ceria had previously been importing sugar from another country,
Cadnia, which produced sugar more cheaply than Ceria or Lithinia. This is known as _____.
66. Which of the following are significant trade blocs in Europe?
67. Which of the following is a factor that resulted in the establishment of the European
Union (EU)?
68. Which of the following organizations, established in 1951, was the forerunner of the
European Union?
69. The European Community was established with the signing of the _____ in 1957.
70. The European Community became the European Union in 1993 following the ratification
of the _____.
71. Which of the following is true of the Treaty of Rome?
72. The _____ is responsible for proposing European Union legislation, implementing it, and
monitoring compliance with European Union laws by member states.
73. Which of the following institutions has a monopoly in proposing European Union
legislation?
74. Which of the following is true about the European Commission?
75. Which of the following is considered to be the ultimate controlling authority within the
European Union?
76. The European Council considered to be the ultimate controlling authority within the
European Union (EU) because:
77. The _____ is composed of one representative from the government of each member–
state, and whose membership depends on the topic being discussed.