Math
At the founding of NAFTA, member countries abolished tariffs on almost all traded goods. Was it closer to 50%, 75%, or 99%?
99%
Common Market, Free Trade Area, Political Union, Customs Union, Economic Union.
Put them in order from least to most integrated.
Free Trade Area, Customs Union, Common Market, Economic Union, Political Union.
In what year was the euro officially introduced?
1999
Mercosur's four founding members are Argentina, Brazil, Uruguay and
Paraguay
A restaurant bill is €60. You want to leave a 15% tip. How much is the tip?
When low-cost producers within a free trade area replace high-cost domestic producers, it's called trade
Creation
This 1991 treaty committed the EU to adopt a single currency.
Treaty of Maastricht
Name the four current EFTA countries.
Norway, Iceland, Liechtenstein, Switzerland
You flip a fair coin 3 times. What's the probability of getting at least one heads?
87.5%
Name the OLI framework from Dunning's eclectic paradigm. What do the three letters stand for?
Ownership, Location, Internalization
Which country needed an EU/IMF bailout in 2010 that nearly broke the eurozone?
Greece
This country has been an EU applicant for years but was denied entry largely over human rights concerns.
Turkey
Roughly what percentage of all foreign exchange transactions involve the U.S. dollar?
About 85%
A firm wants to expand abroad but transportation costs are high, its know-how can't be safely licensed, and it needs tight control over operations. According to the decision tree we saw, what entry mode should it choose?
FDI
The forerunner of today's EU was founded in 1951 and focused on two specific industries.
Name the organization OR the two industries.
European Coal and Steel Community / Coal & Steel
What is the capital of Kazakhstan?
Astana