Exam 10: Europe, Africa, and the Middle East

The ________ is the decision-making body of the European Union that can enact into law all proposals by majority vote except for changes in tax rates on products and services, which require unanimous vote.

The World Trade Organization is wholly dedicated to

Though now disbanded, what agreement was considered to be the most notable enforced political union of the last 40 years?

A ________ is an intermediate step in the transition from a free trade area to a common market.

Eastern Europe and the Baltic states, satellite nations of the former Soviet Union, have moved steadily toward adopting aspects of

The Council of Ministers of the European Union can enact into law all proposals involving changes in tax rates on products and services by majority vote.

Which EU institution drafted the Maastricht Treaty that was presented to the European Union member states for ratification?

One reason Yugoslavia has been facing internal strife is due to

The WTO primary purpose is making trade more profitable for emerging economies.

The Treaty of ________ established the European Economic Community (EEC) in 1957 and called for common external tariffs and the gradual elimination of intramarket tariffs, quotas, and other trade barriers.

A free trade area (FTA) provides its members with a mass market without barriers to impede the flow of goods and services.

Discuss the functions of each of the four institutions under the European Union.

The Economic and Monetary Union provision of the Maastricht Treaty established the parameters for the creation of the

Which institution has the responsibility to debate and decide which proposals of the Single European Act to accept as binding on European Union members?

The Commonwealth of Independent States is a loose economic and political alliance with open borders but no central government.

All three Baltic states started off with the same legacy of efficient industry and American-style capitalist economies.

________ has the potential to become the newest BEM, but its development will depend on government action and external investment by other governments and multinational firms.

What was the intent of the Maastricht Treaty, and what has been its result?

A ________ has reduced or eliminated internal tariffs and adds a common external tariff on products imported from countries outside the group.

What is the purpose of the regional cooperation for development?