Question 1

Which of the following nations DOES use the euro and participates in the Treaty on European Union?

Accepted Answer

A) Sweden 
B) Denmark 
C) Portugal 
D) The United Kingdom 
E) Norway 
A) Sweden 
B) Denmark 
C) Portugal 
D) The United Kingdom 
E) Norway C

Question 2

The Single European Act was expected to create economic benefits by reducing the costs and risks of currency market transactions.

Accepted Answer

A) True 
 B)False  False

Question 3

Which of the following treaties/agreements would be associated with creating a free trade area for the European Union?

Accepted Answer

A) Treaty of Rome 
B) Single Europe Treaty 
C) Delors Agreement 
D) Treaty on European Union 
E) Schengen Agreement 
A) Treaty of Rome 
B) Single Europe Treaty 
C) Delors Agreement 
D) Treaty on European Union 
E) Schengen Agreement A

Question 4

The European Union membership criteria includes all of the following except

Accepted Answer

A) the country must participate in free trade with all of its goods and services. 
B) the country must follow market-based economics. 
C) the country must formally adopt the EU-wide rules such as technical standards,environmental inspections,banking supervision,etc. 
D) the country must be a stable functioning democracy. 
E) None of the above. 
A) the country must participate in free trade with all of its goods and services. 
B) the country must follow market-based economics. 
C) the country must formally adopt the EU-wide rules such as technical standards,environmental inspections,banking supervision,etc. 
D) the country must be a stable functioning democracy. 
E) None of the above.

Question 5

After implementation of the Single European Act,value added taxes in the EU were

Accepted Answer

A) completely harmonized. 
B) unchanged. 
C) partially harmonized with minimum and maximum permissible values set by the EU. 
D) eliminated except on a few items in each country. 
E) cut in half in order to increase the role of corporate taxes. 
A) completely harmonized. 
B) unchanged. 
C) partially harmonized with minimum and maximum permissible values set by the EU. 
D) eliminated except on a few items in each country. 
E) cut in half in order to increase the role of corporate taxes.

Question 6

Subsidiarity requires nations to give up some of their national sovereignty.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is NOT one of the major problems with expanding the EU?

Accepted Answer

A) Expansion has become a more difficult task because of the unwillingness of the eastern and central European countries to change. 
B) The programs that target EU expenditures could be stretched thin by the addition of countries with much lower incomes. 
C) The governance structure of the EU had to be changed to avoid becoming unwieldy and ineffective. 
D) The EU may be faced with an unstable eastern border with huge worker migratory flows if the transition economies fail. 
E) Most central and eastern European countries have large agricultural sectors and extending subsidies to these countries would entail an enormous flow of funds given the Common Agricultural Policy. 
A) Expansion has become a more difficult task because of the unwillingness of the eastern and central European countries to change. 
B) The programs that target EU expenditures could be stretched thin by the addition of countries with much lower incomes. 
C) The governance structure of the EU had to be changed to avoid becoming unwieldy and ineffective. 
D) The EU may be faced with an unstable eastern border with huge worker migratory flows if the transition economies fail. 
E) Most central and eastern European countries have large agricultural sectors and extending subsidies to these countries would entail an enormous flow of funds given the Common Agricultural Policy.

Question 8

With the full implementation of the Single European Act,the EU became a

Accepted Answer

A) common market. 
B) free trade area. 
C) customs union. 
D) economic union. 
E) None of the above. 
A) common market. 
B) free trade area. 
C) customs union. 
D) economic union. 
E) None of the above.

Question 9

Members of which European Union institution are popularly elected?

Accepted Answer

The Europe

Question 10

The European Union is the oldest,largest,and most ambitious integration agreement in the world today.

Accepted Answer

A) True 
 B)False

Question 11

The "Four Freedoms" are an important goal of the

Accepted Answer

A) Treaty of Rome. 
B) Single European Act. 
C) European Monetary System. 
D) Maastricht Treaty. 
E) European Free Trade Area. 
A) Treaty of Rome. 
B) Single European Act. 
C) European Monetary System. 
D) Maastricht Treaty. 
E) European Free Trade Area.

Question 12

A narrow target zone exchange rate band (such as the EEC had until 1992)is most similar to

Accepted Answer

A) a flexible exchange rate system. 
B) a single currency. 
C) a fixed exchange rate system. 
D) an undervalued currency. 
E) a managed floating exchange rate. 
A) a flexible exchange rate system. 
B) a single currency. 
C) a fixed exchange rate system. 
D) an undervalued currency. 
E) a managed floating exchange rate.

Question 13

The single most important factor in the 1992 crisis of the EMS was

Accepted Answer

A) ratification of the Single European Act. 
B) the near failure of the Maastricht Treaty. 
C) the fall in unemployment rates throughout the EEC. 
D) German reunification efforts. 
E) the outbreak of war in the former Yugoslavia. 
A) ratification of the Single European Act. 
B) the near failure of the Maastricht Treaty. 
C) the fall in unemployment rates throughout the EEC. 
D) German reunification efforts. 
E) the outbreak of war in the former Yugoslavia.

Question 14

Adopting the Single European Act had broad popular support;the Treaty on European Union was more controversial.

Accepted Answer

A) True 
 B)False

Question 15

Describe the criteria for membership in the European Union.Given the criteria,what are some of the major challenges with expanding the EU eastward? What are the potential problems of Turkey joining the EU?

Accepted Answer

The criteria for membership include that

Question 16

Which nation is NOT one of the current members of the European Union?

Accepted Answer

A) Greece 
B) Germany 
C) Sweden 
D) Norway 
A) Greece 
B) Germany 
C) Sweden 
D) Norway

Question 17

As Europe explored monetary union,evidence to date suggests that increased variability in exchange rates

Accepted Answer

A) reduces foreign trade and investment. 
B) increases foreign trade and investment. 
C) does not seem to have an impact on foreign trade and investment. 
D) hurts foreign investment but not trade. 
E) hurts foreign trade but not investment. 
A) reduces foreign trade and investment. 
B) increases foreign trade and investment. 
C) does not seem to have an impact on foreign trade and investment. 
D) hurts foreign investment but not trade. 
E) hurts foreign trade but not investment.

Question 18

Which of the following is the treaty that took the participating countries from a free trade area to a common market?

Accepted Answer

A) The Treaty of Rome 
B) The Maastricht Treaty 
C) Single European Act 
D) Treaty on European Union 
A) The Treaty of Rome 
B) The Maastricht Treaty 
C) Single European Act 
D) Treaty on European Union

Question 19

What are the two largest expenditure categories in the EU budget?

Accepted Answer

Agricultur

Question 20

The Maastricht Treaty eliminated passport controls at borders with the European Union.

Accepted Answer

A) True 
 B)False

Which of the following nations DOES use the euro and participates in the Treaty on European Union?

The Single European Act was expected to create economic benefits by reducing the costs and risks of currency market transactions.

Which of the following treaties/agreements would be associated with creating a free trade area for the European Union?

The European Union membership criteria includes all of the following except

After implementation of the Single European Act,value added taxes in the EU were

Subsidiarity requires nations to give up some of their national sovereignty.

Which of the following is NOT one of the major problems with expanding the EU?

With the full implementation of the Single European Act,the EU became a

Members of which European Union institution are popularly elected?

The European Union is the oldest,largest,and most ambitious integration agreement in the world today.

The "Four Freedoms" are an important goal of the

A narrow target zone exchange rate band (such as the EEC had until 1992)is most similar to

The single most important factor in the 1992 crisis of the EMS was

Adopting the Single European Act had broad popular support;the Treaty on European Union was more controversial.

Describe the criteria for membership in the European Union.Given the criteria,what are some of the major challenges with expanding the EU eastward? What are the potential problems of Turkey joining the EU?

Which nation is NOT one of the current members of the European Union?

As Europe explored monetary union,evidence to date suggests that increased variability in exchange rates

Which of the following is the treaty that took the participating countries from a free trade area to a common market?

What are the two largest expenditure categories in the EU budget?

The Maastricht Treaty eliminated passport controls at borders with the European Union.

The United States in a Global Economy

International Economic Institutions Since World War Ii

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

The Bric Countries in the World Economy

Filters

Exam 14: The European Union: Many Markets Into One

Which of the following nations DOES use the euro and participates in the Treaty on European Union?

The Single European Act was expected to create economic benefits by reducing the costs and risks of currency market transactions.

Which of the following treaties/agreements would be associated with creating a free trade area for the European Union?

The European Union membership criteria includes all of the following except

After implementation of the Single European Act,value added taxes in the EU were

Subsidiarity requires nations to give up some of their national sovereignty.

Which of the following is NOT one of the major problems with expanding the EU?

With the full implementation of the Single European Act,the EU became a

Members of which European Union institution are popularly elected?

The European Union is the oldest,largest,and most ambitious integration agreement in the world today.

The "Four Freedoms" are an important goal of the

A narrow target zone exchange rate band (such as the EEC had until 1992)is most similar to

The single most important factor in the 1992 crisis of the EMS was

Adopting the Single European Act had broad popular support;the Treaty on European Union was more controversial.

Describe the criteria for membership in the European Union.Given the criteria,what are some of the major challenges with expanding the EU eastward? What are the potential problems of Turkey joining the EU?

Which nation is NOT one of the current members of the European Union?

As Europe explored monetary union,evidence to date suggests that increased variability in exchange rates

Which of the following is the treaty that took the participating countries from a free trade area to a common market?

What are the two largest expenditure categories in the EU budget?

The Maastricht Treaty eliminated passport controls at borders with the European Union.

The United States in a Global Economy

International Economic Institutions Since World War Ii

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

The Bric Countries in the World Economy

Filters