11) A(n) ________ is a group of countries that have agreed to coordinate trade policies and ease restrictions on the flow of products and capital across members’ borders. A) monopoly B) free trade zone C) economic community D) oligopoly E) economic infrastructure 12) Which of the following countries is NOT a member of MERCOSUR? A) Brazil B) Paraguay C) Bolivia D) Uruguay E) Venezuela 13) Malaysia, Indonesia, Singapore, Thailand, and Cambodia all are members of ________. A) the Andean Group B) ASEAN C) MERCOSUR D) NAFTA E) APEC 14) NAFTA is a(n) ________. A) South American economic community B) common market for eastern and southern Africa C) economic community that includes Peru, Brazil, and China D) trade agreement that includes Canada, Mexico, and the United States E) eastern European economic community that competes with the EU 15) The Euro is the currency used by ________. A) NAFTA B) MERCOSUR C) the EU D) the WTO E) GATT 16) Marketers need to understand the ________ environment of a country from two perspectives: the overall level of development of a country and the current stage of its business cycle. A) political and legal B) sociocultural C) economic D) technological E) natural 17) The most commonly used measure of economic health of a country is the country’s ________. A) gross domestic product (GDP) B) gross national product (GNP) C) exchange rate D) cost of living E) Big Mac Index 18) ________ measures the value of all goods and services produced by a country’s individuals or organizations, whether within the country’s borders or not. A) Gross national product (GNP) B) The inflation rate C) Gross domestic product (GDP) D) The business cycle E) Economic infrastructure 19) Which of the following measures is often a good indicator of a country’s economic health because it is adjusted for the population size of each country? A) per capita GDP (gross domestic product) B) GNP (gross national product) C) the Big Mac Index D) standard of living E) economic infrastructure 20) Which of the following countries has the largest total GDP? A) China B) Japan C) the United States D) Spain E) Hungary