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A) the EU Parliament
B) the European Monetary Union
C) the European Court of Justice
D) the Council of the EU
88) Which institution of the EU is responsible for policy setting?
A) the European Parliament
B) the European Commission
C) the European Court of Justice
D) the Council of the European Union
89) What company was fined millions of dollars by the EU for not complying with EU rules?
A) P&G
B) Microsoft
C) Amazon
D) Ford Motor Co.
FILL IN THE BLANK. Write the word or phrase that best completes each statement or
answers the question.
90) ________ institutions operate through laws and regulations to influence behavior.
91) ________ institutions include motherhood, good manners, and gender roles.
92) GAAP is an example of an informal ________ institution that supports shared standards.
93) ________ relationships, a Chinese collection of values, carry obligations that may be
stronger than civic responsibilities and seemingly rational understandings of business situations.
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94) The ________ has 193 member nations and is a stabilizing force in the world’s economy
by creating conditions under which international business thrives.
95) The main deliberative body of the UN is the ________.
96) The UN ________ has the responsibility for maintaining international peace and security.
97) The UN ________ is concerned with issues of trade, transport, industrialization,
economic development, population growth, children, housing, women’s rights, racial
discrimination, illegal drugs, crime, social welfare, youth, the human environment, and food.
98) The agency that laid the groundwork for the Climate Change Convention was the
________.
99) The UN staff is referred to as the ________.
100) The Bretton Woods conference convened by the UN near the close of WWII established
two monetary institutions, the ________ and the ________.
101) ________ are a reserve asset established by the IMF.
102) IMF quotas are denominated in ________.
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103) The World Bank is actually composed of ________ agencies with focuses on various
development challenges.
104) The ________, a group of developed countries, is known for its individual country
surveys and other research studies.
105) Begun in 1995, the ________ aims to reduce or eliminate trade barriers and restrictions
worldwide in order to reduce costs of doing business for producers of goods and services,
exporters, and importers.
106) The principles of the WTO include trade without discrimination, known as the _____
principle.
107) The WTO’s second principle is ________ trade through negotiation.
108) The WTO operates with tariff ________, or agreements, to not raise a specific tariff over
a given time period.
109) The talks that began in Qatar in 2001, and continued in Mexico in 2003, focusing on
constraints that limited the ability to benefit from the WTO trading system, were called the
________.
110) In a ________, trade among members is tariff free.
111) Mercosur or Mercosul, known as the ________, whose full membership includes
Argentina, Brazil, Paraguay, Uruguay, and Venezuela, is currently a South American customs
union.
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112) In governance of the EU, the ________ represents the people of Europe.
ESSAY. Write your answer in the space provided or on a separate sheet of paper.
113) Discuss the opinion some have that “the major international institutions are concerned
with keeping the rich countries rich, at the expense of the poorer ones.”
114) Differentiate between the five organs of the United Nations by explaining their roles in
the organization.
115) The five principles of the WTO (trade without discrimination, freer trade, predictability,
fair competition, and encouraging development and economic reform) if followed, would
provide developing nations a boost in their development. Agree or disagree.
116) Describe the impact of the EU on the non-EU firm.
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Answer Key
Test name: Module A
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