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Exam 8: Regional Economic Integration

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Question 81

Multiple Choice

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Between 1999 and 2000,the euro fell in value against the U.S.dollar leading critics to claim that the euro was a failure.Which of the following was a major reason for the fall in the euro's value?

A) Steady increase in gasoline prices during the period.
B) Funds moving out of Europe to finance U.S.stocks and bonds purchases.
C) Decline in the productivity of European companies.
D) Sharp increase in imports from the United States into the euro zone.

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Question 82

Multiple Choice

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Which of the following illustrates concerns about national sovereignty overriding the objective of regional economic integration?

A) OPEC nations regulating the supply of petroleum as a cartel
B) APEC failing to establish itself as a regional arrangement
C) Admission of Eastern European nations into the EU
D) Great Britain choosing not to opt for the euro

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Question 83

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Which of the following is NOT one of the four main institutions in the political structure of the European Union?

The members of which EU institution are directly elected by the populations of the member states?

Political considerations behind the formation of the European Community (EC)included the need for a united Europe to deal with the United States and the politically alien Soviet Union.

Discuss the factors that led to the creation of the European Union.

The Treaty of Athens paved the way for the establishment of the European Community.

Which of the following is a key feature of a common market which is absent in a customs union?

Trade creation occurs when high-cost domestic producers are replaced by low-cost producers within the free trade area.