Exam 13: Creating Effective Trading Blocs: What Lessons Does the European Union Provide

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A country operates with its own independent currency and allows this to float freely. If it were to experience trade deficits with its trading partners then it could, in the short run, allow its currency to depreciate.

Free

(True/False)

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Question 1

Correct Answer:

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Elaborate on the differences between a customs union, a free trade area, a single market, a monetary union, an economic union, and the EU.

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Question 2

Correct Answer:

Verified

Brief description of a customs union, a free trade area, a single market, a monetary union, and an economic union.
EU moving from a customs union to a free trade area-negative to positive integration.
Description of the single market-free movement of goods, people, capital, and services.
Conclude with areas still to be tackled-liberalization of key industries from the transport sector to the services sector.

'Trade diversion' in the European Union could be defined as:

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Question 3

Correct Answer:

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Critically discuss the pros and cons of the 2009 Treaty of Lisbon.

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Question 4

Briefly describe the principal EU institutions and how EU decision-making works.

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Question 5

Which of the following are present in a customs union?

(Multiple Choice)

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Question 6

In what way would a country's entry to the eurozone (i.e. adoption of the euro as its currency) benefit that country's firms?

(Multiple Choice)

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Question 7

With reference to the three main EU institutions, where does the balance of power lie?

(Multiple Choice)

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Question 8

Explain why EU decision-making can be a complex process.

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Question 9

Explain the different approaches to building the European Union and their impact on member states.

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Question 10

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A country operates with its own independent currency and allows this to float freely. If it were to experience trade deficits with its trading partners then it could, in the short run, allow its currency to depreciate.

Elaborate on the differences between a customs union, a free trade area, a single market, a monetary union, an economic union, and the EU.

'Trade diversion' in the European Union could be defined as:

Critically discuss the pros and cons of the 2009 Treaty of Lisbon.

Briefly describe the principal EU institutions and how EU decision-making works.

Which of the following are present in a customs union?

In what way would a country's entry to the eurozone (i.e. adoption of the euro as its currency) benefit that country's firms?

With reference to the three main EU institutions, where does the balance of power lie?

Explain why EU decision-making can be a complex process.

Explain the different approaches to building the European Union and their impact on member states.

Introduction: Business and Its Environment in a Globalizing World

The Economic Environment

The Technological Environment

The Political Environment

The Legal Environment

The Social and Cultural Environment

Can the Marketplace Be Ethical Corporate Responsibility

The Natural Environment: Global Warming, Pollution, Resource Depletion, and Sustainable Development

How Has Macroeconomic Policy Changed in an Era of Uncertainty

Globalization of Business: Good or Bad

Does Business Have Too Much Power

Is Inequality Bad for Business

What Role for the Public Sector

From Starting to Scaling and Beyond: How Do Entrepreneurs and Smes Innovate and Grow

Conclusion: Looking Ahead-Managing in a Dynamic Environment

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