7392552
Description
Quiz by Hannah Nad, updated more than 1 year ago
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Created by Hannah Nad
almost 8 years ago
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Question 1
Question
In a free trade area there is....
Answer
-
No internal trade barriers
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A common external tariff
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Factor and asset mobility
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Common currency
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Common economic policy
Question 2
Question
In a single market there is...
Answer
-
No internal trade barriers
-
A common external tariff
-
Factor and asset mobility
-
Common currency
-
Common economic policy
Question 3
Question
What is present in a single market but not a customs union?
Answer
-
Factor asset mobility
-
Common external tariff
-
Common economic policy
Question 4
Question
Poorer countries that are members of the EU, such as Romania and Bulgaria, pay less into the EU budget compared to countries with a higher level of GDP (e.g. France and Germany)
Answer
- True
- False
Question 5
Question
The ASEAN (Association of South-East Asian Nations) is an example of an example of a single market
Answer
- True
- False
Question 6
Question
Which of these is NOT one of the four key-freedoms of the EU?
Answer
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Free trade in goods
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Mobility of labour
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Free movement of capital
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Free trade in services
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Identical product standards
Question 7
Question
Which one of these are NOT a convergence criteria to join the euro
Answer
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Relatively similar inflation rates (+/- 1.5 than current members)
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Relative stable exchange rate
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Sound government finances (not more than 60% of GDP, 3% of annual GDP)
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Interest rate convergence (not more than 2% higher than members)
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Trend growth of GDP (no more than a 5% difference in GDP)
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