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b. False 6. A Common Market includes all of the elements of a Customs Union and freedom of movement of the four factors of production: goods, services, capital, and labor. a. True b. False 7. Which of the following countries is NOT a founding member of APEC? (Asia Pacific Economic Cooperation) a. New Zealand b. China c. Singapore d. Indonesia 8. In 1979 (1989), Mexican President Carlos Salinas invited United States President Bill Clinton (George Bush) to organize a trade agreement that would increase investment and decrease tariffs between the U.S. and Mexico. a. True b. False 9. Mercosur was established in 1991 with the intent of increasing the competiveness of its five member nations’ economies through the use of research on economic development. Full-member nations include Argentina, Brazil, Paraguay, Uruguay, and Venezuela. a. True b. False 10. Trading blocs provide protection from global competitiveness. a. True b. False 11. ANCOM was established in 1990 (1969) with the Agreement of Cartagena, or Andean Pact, between Bolivia, Peru. a. True b. False 12. OPEC was founded in 1960 in Baghdad. a. True b. False 13. CACM was established in 1960 between a. Guatemala, El Salvador, Honduras, and Nicaragua b. Guatemala, Puerto Rico, Honduras, and Nicaragua c. Guatemala, El Salvador, Honduras, and Costa Rica d. Brazil, El Salvador, Honduras, and Nicaragua 14. Which of the following is not a member of OECD? a. Greenland b. Korea c. Israel d. Greece 15. A study conducted by the OECD reported the students who had the highest level of reading proficiency include

Liberty university busi 303 quiz 3 complete solution