Which of the Following Is True of Regional Economic Integration

question 120

Multiple Choice

Which of the following is true of regional economic integration?

• A) Regional economic integration is good for producers because they do not have to adapt to a more competitive environment.
• B) By creating a single market, the EU aimed to lower the price for goods and services across the bloc.
• C) Regional economic integration poses a challenge for consumers as it increases the prices of goods.
• D) The members of the World Trade Organization have refused to participate in any regional trade agreements.
• E) Agreements designed to promote freer trade within regions have failed to produce gains from trade for all member countries.

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Definitions:

Promissory Note

A written promise to pay a specified sum of money to a designated party on demand or at a fixed or determinable future time.

Fictitious-Payee Rule

A legal principle that protects banks from liability when funds are withdrawn by a person not entitled to them, if the drawer's negligence contributed to the forgery.

Imposter Rule

A legal principle that addresses the liability for fraud when an impostor defrauds a third party.

Forged

Refers to the illegal modification or creation of a document, artwork, or object with the intent to deceive or defraud by passing it off as genuine.