Britain's dilemma with <regard/respect> to extended(...)


Senior Member
Britain's dilemma with ..... to extended European union is characteristic of the nation's divided global attitudes over the past two hundred years.

a) respect
b) regard
c) effect
d) belief

This is an exercise from my textbook.
I am supposed to choose the answer that best fills each gap.

I always thought that "with respect to" = "with regard to" until I saw this exercise. The answer key says that b) is the correct one. Is there really any difference between the two?
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