Question 1

National courts are obligated to follow EU law and decisions.

Accepted Answer

A) True 
 B)False  True

Question 2

The Four Freedoms preempt any action by the member states in the areas of goods,services,capital and people.

Accepted Answer

A) True 
 B)False  False

Question 3

The Commission of the European Union is headed by the College of Commissioners and consists of twenty members.

Accepted Answer

A) True 
 B)False  False

Question 4

Which institution is in charge of monetary policy relating to the euro?

Accepted Answer

A)  The European Central Bank 
B)  The Eurozone Bank 
C)  The World Trade Organization 
D)  The International Court of Justice 
A)  The European Central Bank 
B)  The Eurozone Bank 
C)  The World Trade Organization 
D)  The International Court of Justice

Question 5

By 2010,the United Kingdom and Denmark had finally accepted the use of a single European currency.

Accepted Answer

A) True 
 B)False

Question 6

The signing of the European Economic Community Act officially formed the European Community.

Accepted Answer

A) True 
 B)False

Question 7

The act that made it easier for the Council to act by requiring only a qualified majority for many types of directives was:

Accepted Answer

A)  Autonomous Council Act. 
B)  Free Trade Act. 
C)  Binding Directives Act. 
D)  Single European Act. 
A)  Autonomous Council Act. 
B)  Free Trade Act. 
C)  Binding Directives Act. 
D)  Single European Act.

Question 8

The Commission of the European Communities has the power to draft both regulations and directives and has popular support by European citizens.

Accepted Answer

A) True 
 B)False

Question 9

A _____is binding and directly applicable in all member states; and a _____sets forth the result to be achieved but leaves to the individual states the responsibility to employ the appropriate steps.

Accepted Answer

A)  regulation; directive 
B)  rule; resolution 
C)  resolution; rule 
D)  directive; regulation 
A)  regulation; directive 
B)  rule; resolution 
C)  resolution; rule 
D)  directive; regulation

Question 10

The Maastricht Treaty abolished the Communities and established the European Union as a successor to the European Community.

Accepted Answer

A) True 
 B)False

Question 11

The Court of Justice is the final arbiter of EU law and consists of 15 justices,each appointed by the assembly for a term of six years.

Accepted Answer

A) True 
 B)False

Question 12

In response to the recent financial crisis,the Eurozone states launched a permanent funding program for the rescue of states undergoing financial crisis called the:

Accepted Answer

A)  Eurozone Crisis Act. 
B)  European Fiscal Compact. 
C)  European Stability Mechanism. 
D)  none of these are correct. 
A)  Eurozone Crisis Act. 
B)  European Fiscal Compact. 
C)  European Stability Mechanism. 
D)  none of these are correct.

Question 13

The Four Freedoms include free movement of goods,services,capital and people.

Accepted Answer

A) True 
 B)False

Question 14

Compare and contrast the EU with NAFTA.

Accepted Answer

The European Union (EU) and the North Am

Question 15

The representatives who serve on the European Commission are appointed by:

Accepted Answer

A)  the representative's own government. 
B)  the Assembly. 
C)  the Court of Justice. 
D)  the Council. 
A)  the representative's own government. 
B)  the Assembly. 
C)  the Court of Justice. 
D)  the Council.

Question 16

The Council of Ministers and the European Council are the same body.

Accepted Answer

A) True 
 B)False

Question 17

Similar to the United States Supreme Court,decisions of the European Court of Justice are issued with the dissenting opinions of the minority ruling judges which are not open to the general public.

Accepted Answer

A) True 
 B)False

Question 18

Compare and contrast EU Directives with EU Regulations.Which would the EU as a whole favor? Which would individual countries favor?

Accepted Answer

EU Directives and EU Regulations are bot

Question 19

Members of the European Parliament,which represent the interest of their respective states are elected by residents of each state and are appointed for five-year terms.

Accepted Answer

A) True 
 B)False

Question 20

After the passage of the Single European Act,the EU went from qualified voting to the requirement of unanimous consent.

Accepted Answer

A) True 
 B)False

Exam 15: The European Union

National courts are obligated to follow EU law and decisions.

The Four Freedoms preempt any action by the member states in the areas of goods,services,capital and people.

The Commission of the European Union is headed by the College of Commissioners and consists of twenty members.

Which institution is in charge of monetary policy relating to the euro?

By 2010,the United Kingdom and Denmark had finally accepted the use of a single European currency.

The signing of the European Economic Community Act officially formed the European Community.

The act that made it easier for the Council to act by requiring only a qualified majority for many types of directives was:

The Commission of the European Communities has the power to draft both regulations and directives and has popular support by European citizens.

A _____is binding and directly applicable in all member states; and a _____sets forth the result to be achieved but leaves to the individual states the responsibility to employ the appropriate steps.

The Maastricht Treaty abolished the Communities and established the European Union as a successor to the European Community.

The Court of Justice is the final arbiter of EU law and consists of 15 justices,each appointed by the assembly for a term of six years.

In response to the recent financial crisis,the Eurozone states launched a permanent funding program for the rescue of states undergoing financial crisis called the:

The Four Freedoms include free movement of goods,services,capital and people.

Compare and contrast the EU with NAFTA.

The representatives who serve on the European Commission are appointed by:

The Council of Ministers and the European Council are the same body.

Similar to the United States Supreme Court,decisions of the European Court of Justice are issued with the dissenting opinions of the minority ruling judges which are not open to the general public.

Compare and contrast EU Directives with EU Regulations.Which would the EU as a whole favor? Which would individual countries favor?

Members of the European Parliament,which represent the interest of their respective states are elected by residents of each state and are appointed for five-year terms.

After the passage of the Single European Act,the EU went from qualified voting to the requirement of unanimous consent.

Introduction to International Business

International Law and the World's Legal Systems

Resolving International Commercial Disputes

The Formation and Performance of Contracts for the Sale of Goods

The Documentary Sale and Terms of Trade

Legal Issues in International Transportation

Bank Collections and Letters of Credit

National Lawmaking Powers and the Regulation of U.S.Trade

The World Trade Organization: Basic Legal Principles

Laws Governing Access to Foreign Markets

Regulating Import Competition and Unfair Trade

Imports,Customs,and Tariff Law

Export Controls and Sanctions

North American Free Trade Law

Marketing: Representatives,Advertising,and Anti-Corruption

Protection and Licensing of Intellectual Property

The Legal Environment of Foreign Direct Investment

Labor and Employment Discrimination Law

Environmental Law

Regulating the Competitive Environment

Filters

A _is binding and directly applicable in all member states; and a _sets forth the result to be achieved but leaves to the individual states the responsibility to employ the appropriate steps.