What regional economic bloc removes trade restrictions between member countries and establishes a common trade policy towards non-member countries?  Restrictions remain on movement of factors of production.  

Question 1 options:

1. Free Trade Area such as NAFTA

Custom union such as MERCOSUR

Economic Union such as the European Union

These type of trade agreements do not exist

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Question 2 (2 points)

 

1. Identify the term that describes a country whose national government exerts control over the national economy by controlling national banks and providing extensive welfare services. An example of this type of state would be Germany.

Question 2 options:

Neoliberal states

Welfare states

Authoritarian states

Developmental states

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Question 3 (2 points)

 

Identify the term that supports the view point that the state's role in the economy should be limited to enforcing property rights and supporting free markets and free trade. 

Question 3 options:

Keynesian economics 

Neoliberalism

Hyperglobalism

Downscaling

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Question 4 (2 points)

 

Several countries in recent years have implemented policies that make labor markets more flexible.   Identify the country that is a model for those that support the flexibilization of labor markets through deregulation. 

Question 4 options:

Japan

Germany

 United States

France

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Question 5 (2 points)

 

Select the statement that is an example of how the state serves as the ultimate protector of the national economy according to Neil Coe, Philip Kelly and Henry Yeung.

Question 5 options:

The state protects property rights and rule of law.

The state works to attract foreign direct investment

The state is involved in the maintenance of transportation infrastructure

State-owned enterprises