Deck 7: Exchange Rates

Question 1

A customs union:

A)is a deeper form of integration than an economic union
B)is a deeper form of integration than a trade union
C)is a deeper form of integration than a monetary union
D)is a deeper form of integration than a free trade area

Answer 1

D

Question 2

___________ is an important principle for the functioning of the EU Common Market.

A)Mutual recognition
B)Harmonized sectors
C)Subsidiarity
D)All of the above answers
E)None of the above answers

Answer 2

D

Question 3

When travelling across Europe without needing to show your passport at the border, you are benefitting from the:

A)Copenhagen Agreement
B)Treaty of Lisbon
C)Schengen Agreement
D)Treaty of Bologna

Answer 3

B

Question 4

Which transactions are recorded in the balance of payments?

A)Donations to charities based in another country
B)Payments of membership dues in international organizations
C)Transfers from citizens working abroad to their parents
D)All of the above

Question 5

The criteria that new member countries of the European Union have to fulfil to be accepted as member in the European Union are also known as:

A)Maastricht criteria
B)Copenhagen criteria
C)Schengen criteria
D)Amsterdam criteria

Question 6

Business travel between Poland and Germany has become much more difficult over the past decade

Question 7

The Single European Act establishing the European Single Market came into effect on the first of January of which year?

A)1983
B)1993
C)1998
D)2003

Question 8

A monetary union is where countries share a common currency and monetary policy.

Question 9

The Council of Europe is another name for the Council of the European Union

Question 10

Which of the following was not a major element of economic reforms in Central and Eastern Europe in the 1990s?

A)Nationalization
B)Liberalization
C)Privatization
D)Stabilization

Question 11

The single European education area was established in a contract signed in the Italian city of:

A)Bologna
B)Milan
C)Rome
D)Venice

Question 12

The four freedoms established in the Single European Act are:

A)Free movement of people, goods, services and capital
B)Freedom from oppression, servitude, torture and dictatorship
C)Freedom to vote for representatives in local, regional, national and European parliaments
D)Freedom from monopolies, oligopolies, unfair practices, and unfair subsidies

Question 13

Which statement about the euro is not correct?

A)The Maastricht Treaty established criteria than countries had to fulfil to be allowed to join the euro
B)The euro does not have clearly defined procedures for countries that wish to leave the eurozone
C)In 2011, the euro was official currency in all pre-2005 member countries of the EU
D)The European Central Bank is responsible for monetary policy in the euro-zone

Question 14

The common market of the EU is also known as EU Multiple Market.

Question 15

The European Constitution is the main basis of law in the European Union.