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Market Integration and Free Trade

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Questions and Answers

What is the primary goal of the World Trade Organization (WTO) agreements?

To reduce trade barriers

To promote regional economic integration

To ensure that trade takes place smoothly, predictably, and as freely as possible (correct)

To prioritize national projects and programs

Which international financial institution prioritizes regional, sub-regional, and national projects and programs?

Asian Development Bank (ADB) (correct)

International Monetary Fund (IMF)

World Trade Organization (WTO)

Asia-Pacific Economic Cooperation (APEC)

What is the primary objective of the Asia-Pacific Economic Cooperation (APEC)?

To reduce trade barriers and promote free trade

To promote balanced, inclusive, sustainable, innovative, and secure growth (correct)

To prioritize national projects and programs

To promote regional economic integration and cooperation

What is the main difference between the World Trade Organization (WTO) and the Asian Development Bank (ADB)?

The WTO deals with trade rules, while the ADB focuses on development finance Signup and view all the answers

What is a potential benefit of free trade, as promoted by the World Trade Organization (WTO)?

Economies of scale and increased efficiency Signup and view all the answers

What is the primary function of the Asian Development Bank (ADB)?

To provide development finance and promote social and economic progress Signup and view all the answers

What is the main characteristic of the Asia-Pacific Economic Cooperation (APEC)?

It is a regional economic forum promoting economic integration Signup and view all the answers

What is the main difference between global competition and regional economic integration?

Global competition involves multiple countries, while regional economic integration involves a single region Signup and view all the answers

What is the primary objective of international financial institutions, such as the World Trade Organization (WTO) and the Asian Development Bank (ADB)?

To promote global economic cooperation and trade Signup and view all the answers

What is a potential challenge of global economic integration, as promoted by the World Trade Organization (WTO)?

Trade disputes and protectionism Signup and view all the answers