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Questions and Answers
What is the term for increased trade among member countries of a trading bloc?
What is the term for increased trade among member countries of a trading bloc?
- Trade creation (correct)
- Trade restriction
- Trade imbalance
- Trade diversion
What can trading blocs do to restrict international trade with non-members?
What can trading blocs do to restrict international trade with non-members?
- Promote peace and resource use
- Impose stringent rules and trade barriers (correct)
- Improve economic stability
- Encourage fair trade practices
What are the implications of trading blocs for both member and non-member countries?
What are the implications of trading blocs for both member and non-member countries?
- No impact on economic activities
- Significant implications for trade and economic activities (correct)
- Only positive implications for member countries
- Negative implications for non-member countries only
What is the term for the redirection of trade in favor of the member countries and against non-members within a trading bloc?
What is the term for the redirection of trade in favor of the member countries and against non-members within a trading bloc?
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What are the positive effects of trading blocs on member nations?
What are the positive effects of trading blocs on member nations?
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