QUESTION The creation of a single market through regional economic integration offers significant opportunities because markets that were formerly protected from foreign competition are increasingly open. Indicate whether the statement is true or false. ANSWER TRUE The creation of a single market through regional economic integration offers significant opportunities because markets that were formerly […]
QUESTION With the signing of the Treaty of Rome in 1957, the European Free Trade Association was established. Indicate whether the statement is true or false. ANSWER FALSE With the signing of the Treaty of Rome in 1957, the European Community was established. The name changed again in 1993 when the European Community became […]
QUESTION An advantage of the emergence of single markets is that the lowering of barriers to trade and investment among countries has led to decreased price competition throughout the European Union. Indicate whether the statement is true or false. ANSWER FALSE Just as the emergence of single markets creates opportunities for business, it also […]
QUESTION The European Council is composed of one representative from the government of each member-state but the membership varies depending on the topic being discussed. Indicate whether the statement is true or false. ANSWER TRUE The European Council represents the interests of member-states. The council is composed of one representative from the government of […]
QUESTION Which of the following refers to agreements among countries in a geographic region to reduce and ultimately remove tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other? A. Regional economic integration B. Cross-cultural integration C. Zoning agreement D. Administrative trade policies E. Balance-of-trade equilibrium […]
QUESTION The European Commission is the ultimate controlling authority within the European Union because draft legislation from the commission can become EU law only if the council agrees. Indicate whether the statement is true or false. ANSWER FALSE The European Commission is responsible for proposing European Union (EU) legislation, implementing it, and monitoring compliance […]
QUESTION Which of the following is true with regard to regional economic integration? A. Agreements designed to promote freer trade within regions have failed to produce gains from trade for all member countries. B. World Trade Organization members are not required to notify the organization of any regional trade agreements in which they participate. C. […]
QUESTION The European Parliament, which meets in Strasbourg, France, is primarily a legislative rather than consultative body. Indicate whether the statement is true or false. ANSWER FALSE The European Parliament, which meets in Strasbourg, France, is primarily a consultative rather than legislative body. It debates legislation proposed by the commission and forwarded to it […]
QUESTION The European Parliament is responsible for proposing European Union (EU) legislation, implementing it, and monitoring compliance with EU laws by member-states. Indicate whether the statement is true or false. ANSWER FALSE The European Parliament, which meets in Strasbourg, France, is primarily a consultative rather than legislative body. It debates legislation proposed by the […]
QUESTION In a free trade area, all barriers to the trade of goods and services among member countries are removed and a common external trade policy is adopted. Indicate whether the statement is true or false. ANSWER FALSE In a free trade area, all barriers to the trade of goods and services among member […]
