INBU-3301 FINAL EXAM
REVIEW
1. What are the European Union (EU) different institutions?
5 points
Answer 1. European Council
2. European Commission
3. European Parliament
4. Court of Justice
5. General Court
2. EU- Define European Council
Answer The ultimate controlling authority in the EU
3. EU- Define European Commission
Answer Responsible for proposing EU legislation, implementing them, and monitering compliance with
EU laws by member states
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,4. EU- Define European Parliament
Answer Debates legislation proposed by the commission and forwarded to it by the council
5. EU- Define Court of Justice
Answer The supreme appeals court for EU law
6. EU- Define General Court
Answer Individual complaints of alleged human rights violations
7. Who and What is the North American Free Trade Agreement (NAFTA) 6 points-
Answer Includes the United States, Canada, Mexico
1. Abolished taritts on 99% of the goods traded between members
2. Removed barriers on the cross-border flow of services
3. Protects intellectual property rights
4. Removes most restrictions on FDI between members
5. Allows each country to apply its own environmental standards
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, 6. Establishes two commissions to impose fines and remove trade privileges when environmental or legislation involving
health and safety, minimum wages, or child labor are ignored
8. What are the 3 different Regional Trade Agreements (RTA)?
Answer 1. Andean Community
2. Association of Southeast Asain Nations (ASEAN)
3. Asia-Pacific Economic Cooperation (APEC)
9. RTA- What is? 5
Andean Community
Answer
5 points
- Originally called Andean Pact
- Formed in 1969 using EU Model, but failed by mid-1980s
- Was re-launched in 1990, and now operates as a customs union
- Renamed to Andean Community in 1997
- Signed agreement in 2003 with Mercosur to restart negotiations towards the creation of a Free Trade Area
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REVIEW
1. What are the European Union (EU) different institutions?
5 points
Answer 1. European Council
2. European Commission
3. European Parliament
4. Court of Justice
5. General Court
2. EU- Define European Council
Answer The ultimate controlling authority in the EU
3. EU- Define European Commission
Answer Responsible for proposing EU legislation, implementing them, and monitering compliance with
EU laws by member states
1/
26
,4. EU- Define European Parliament
Answer Debates legislation proposed by the commission and forwarded to it by the council
5. EU- Define Court of Justice
Answer The supreme appeals court for EU law
6. EU- Define General Court
Answer Individual complaints of alleged human rights violations
7. Who and What is the North American Free Trade Agreement (NAFTA) 6 points-
Answer Includes the United States, Canada, Mexico
1. Abolished taritts on 99% of the goods traded between members
2. Removed barriers on the cross-border flow of services
3. Protects intellectual property rights
4. Removes most restrictions on FDI between members
5. Allows each country to apply its own environmental standards
2/
26
, 6. Establishes two commissions to impose fines and remove trade privileges when environmental or legislation involving
health and safety, minimum wages, or child labor are ignored
8. What are the 3 different Regional Trade Agreements (RTA)?
Answer 1. Andean Community
2. Association of Southeast Asain Nations (ASEAN)
3. Asia-Pacific Economic Cooperation (APEC)
9. RTA- What is? 5
Andean Community
Answer
5 points
- Originally called Andean Pact
- Formed in 1969 using EU Model, but failed by mid-1980s
- Was re-launched in 1990, and now operates as a customs union
- Renamed to Andean Community in 1997
- Signed agreement in 2003 with Mercosur to restart negotiations towards the creation of a Free Trade Area
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26
