INTEGRATION STUDY GUIDE 2 2026 FULL
QUESTIONS WITH SOLUTIONS GRADED A+
⩥ Approximately how many regional trade agreements are currently in
force?
Answer: 280 to 284
⩥ As the most enduring free trade area in the world, ________
concentrates in the free trade of industrial goods, but no agricultural
products.
Answer: EFTA ( European Free Trade Association)
⩥ The anticipated exit of ____ from the European Union has cast a level
of doubt about the future of the project.
Answer: the United Kingdom
⩥ What are two methods a country would use to achieve economic
integration?
Answer: Economic Union and Common market
⩥ Free trade agreements account for nearly ____ of regional economic
agreements.
Answer: 90%
,⩥ There has been _____ in regional economic integration in the past two
decades.
Answer: Increase
⩥ In moving toward economic and political integration, _____ union
removes trade barriers among member nations and establishes a
common trade policy for nonmembers.
Answer: Customs
⩥ Which of the these trade unions is made up of European countries that
decided NOT to be part of the European Community and emphasized
free trade in industrial goods.
Answer: European Free Trade Association
⩥ The most ambitious attempt at regional economic integration is the
_________.
Answer: European Union
⩥ Which level of economic integration is present in an agreement that
has no barriers to trade among member countries and allow factors of
production (such as labor) to move freely among the members?
Answer: Common market
, ⩥ The least integrated form of economic integration is a
Answer: free trade area
⩥ A _______ union adds more economic integration to a common
market by requiring a common currency, a common monetary and fiscal
policy, and harmonization of tax rates.
Answer: Economic
⩥ A lack of barrier to the trade of goods and services among member
countries is found in
Answer: free trade area
⩥ Two reasons that the EU is NOT considered a perfect economic union.
Answer: Not all markets are fully deregulated and There is a difference
in tax rates across the countries.
⩥ Which of the following are reasons for a customs union being put in
place?
Answer: To eliminate trade barriers between member countries and To
establish a common external trade policy
⩥ The United States is considered a close example of a ________
because 50 independent states are effectively combined into a single
nation.
QUESTIONS WITH SOLUTIONS GRADED A+
⩥ Approximately how many regional trade agreements are currently in
force?
Answer: 280 to 284
⩥ As the most enduring free trade area in the world, ________
concentrates in the free trade of industrial goods, but no agricultural
products.
Answer: EFTA ( European Free Trade Association)
⩥ The anticipated exit of ____ from the European Union has cast a level
of doubt about the future of the project.
Answer: the United Kingdom
⩥ What are two methods a country would use to achieve economic
integration?
Answer: Economic Union and Common market
⩥ Free trade agreements account for nearly ____ of regional economic
agreements.
Answer: 90%
,⩥ There has been _____ in regional economic integration in the past two
decades.
Answer: Increase
⩥ In moving toward economic and political integration, _____ union
removes trade barriers among member nations and establishes a
common trade policy for nonmembers.
Answer: Customs
⩥ Which of the these trade unions is made up of European countries that
decided NOT to be part of the European Community and emphasized
free trade in industrial goods.
Answer: European Free Trade Association
⩥ The most ambitious attempt at regional economic integration is the
_________.
Answer: European Union
⩥ Which level of economic integration is present in an agreement that
has no barriers to trade among member countries and allow factors of
production (such as labor) to move freely among the members?
Answer: Common market
, ⩥ The least integrated form of economic integration is a
Answer: free trade area
⩥ A _______ union adds more economic integration to a common
market by requiring a common currency, a common monetary and fiscal
policy, and harmonization of tax rates.
Answer: Economic
⩥ A lack of barrier to the trade of goods and services among member
countries is found in
Answer: free trade area
⩥ Two reasons that the EU is NOT considered a perfect economic union.
Answer: Not all markets are fully deregulated and There is a difference
in tax rates across the countries.
⩥ Which of the following are reasons for a customs union being put in
place?
Answer: To eliminate trade barriers between member countries and To
establish a common external trade policy
⩥ The United States is considered a close example of a ________
because 50 independent states are effectively combined into a single
nation.
