1. Which of the following explains why economic integration has never been easy to achieve or sustain, despite the strong economic and political arguments in support?
Linking neighboring economies and making them increasingly dependent on each other creates little incentives for political cooperation.
No country has shown significant improvement because of economic integration.
While a nation as a whole may benefit significantly, certain groups may lose.
Countries fear a reduction of their political weight in the world because of economic integration.
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2. Which of the following is NOT true regarding culture?
Culture involves the knowledge and beliefs of people.
Culture is static.
Culture is a system of values and norms that are shared among a group of people.
Culture varies across and within nations.
3. Interdependent political, economic, and legal systems of a country make up its:
political economy.
administrative agenda.
socioeconomic fabric.
cultural environment.
4. Identify the theory that supports the view that in some cases countries export for the reason that the world market can support only a limited number of firms.
Smith's theory
New trade theory
Heckscher-Ohlin theory
Ricardo's theory
5. When a company brings capital and/or technology to a host country, the host country benefits from the:
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