5S A eountry nust agree to the e a. European Union b. International Monetary Fun

Question

5S A eountry nust agree to the e a. European Union b. International Monetary Fund c. Group of Eight d. World Trade Organization of TRIPS nm osder to yoin de e, NAFTA 56. The benefits of a country establishing a free trade zone (FTZ) are that FTZZA 1s a. Create jobs and help trade balances b. Are a requirement to join MERCOSUR and NAFTA e. Controls Political risk and reduces countries establishing blocked currencies d. Increase Domestication and support national defense e. None of the above 57. The type of organization that has eliminated all tariff and non tariff barriers to trade, and have free movement of capitsa and lakon within thatzion called a. Monetary union b. Common Market c. OPEC d. World Trade Organization c. NAFTA 58. The European Council, European Central Bank, Council of Nations, and Council of Ministers are all part of a. The European Union b. TRIPS c. World Bank d. Group of Eight e United Nations 59. A culture in which "what is said is precisely what is meant" is called a. b. High context c. Low context d. Individualistic e. Feminine 60. The physical distance and space between people during conversation is called a. Chronemics and tends to be uniform across cultures b. Proxemics and can be different in different cultures c. Haptics and is usually different in different cultures. d. Cross cultural haptics and is usually different in different cultures e. Chronemics and can be different across cultures 61. BREXIT refers to a. The breakdown of Bilateral agreements between countries b. England withdrawing from the EU c. The British Central Bank and currency control method d. The Central bank of the EU e. When the Council of Nations overrules the Court of Justice 62. NAFTA stands for a. North Atlantic Free Trade Agreement b. North American Free Trade Agreement c. North African Free Trade Association. d. NATO Free Trade Agree e. None of the above

Explanation / Answer

Q55 Answer: D: world trade organizations Reason: Trips is an international legal agreement which sets down the minimum standards for countries to join out world trade organizations. Q56 Answer: a: create jobs and help trade balance. Reason: FTZ are made to boosts the jobs and industry by eliminating various taxes and duties in that area and providing various special facility which helps to improve industries and development of that area. the increase of industries directly improve the jobs and reduce unemployment this area is specially made to boost the industry which improves exports and imports because of the removal of duties hence improve trade balances. Q57 Answer: D: World Trade Organization Reason: it’s a legal agreement between the countries who proposes to join WTO to reduce and eliminate trade barriers by removing such tariff. Q58 Answer: a. The European Union Reason: they are all part of THE EU

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