A. elimination of trade restrictions among member countries
B. a common tax system and monetary union
C. prohibition to restriction on factor movements
D. a common tariff levied in imports from nonmembers
Related Mcqs:
- Mention an electronic quotation system in USA that provides price quotations to market participants about more actively traded common stock issues in OTC market ?
A. National Association of Securities Dealers Automatic Quotation system (Nasdaq)
B. New York Stock Exchange
C. Wall Street
D. Nikkei Stock Average - There is a decentralized market where geographically dispersed dealers are linked by telephones and computer screens. The market is for securities not listed on a stock or bond exchange. Name the market ?
A. Grey market
B. Over-the counter (OTC)
C. Open market
D. Back market - If a producer has market power (can influence the price of the product in the market) then free market solutions ?
A. are equitable.
B. are efficient
C. maximize consumer surplus
D. are inefficient - If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?
A. downward sloping
B. perfectly inelastic
C. upward sloping
D. perfectly elastic - Suppose an industry emits a negative externality such a pollution and the possible methods to internalize the externality are command-and-control policies, pigovian taxes, and tradable pollution permits. If economists were to rank these methods for internalizing a negative externality based on efficiency ease of implementation and the incentive for the industry to further reduce pollution in the future, they would probably rank them in the following order (from most favored to least favored) ?
A. Pigouvian taxes, command-and-control policies, tradable pollution permits.
B. tradable pollution permits, Pigouvian taxes, command-and-control policies
C. tradable pollution permits command-and-control policies, Pigovian taxes.
D. command-and-control policies, tradable pollution permits, Pigovian taxes.
E. They would all rank equally high because the same result can be obtained from any one of the policies - The implementation of the European Union has ?
A. made it harder for Americans of compete against the Germans in the British market
B. made it easier for Americans to compete against the Germans in the British market
C. made it harder for Americans to compete against the Japanese in the British market
D. made it easier for Americans to compete against the Japanese in the British - The free market involves ?
A. The free provision of products
B. The Subsidizing of products by the government
C. Market forces of supply and demand
D. All trade via barter - All of the following factors can affect the attractiveness of a market segment EXCEPT ?
A. the presence of many strong and aggressive competitors
B. the likelihood of government monitoring
C. actual or potential substitute products
D. the power of buyers in the segments - All of the following are benefits of the single market except ?
A. it allows countries to exploit their comparative advantage, more fully
B. firm could more readily exploit
C. economies of scal
D. it intensified competition
E. it is easier to book holidays in member countries - Industrial policies intended to foster comparative advantage for domestic industries could result in the implementation of ?
A. research and development subsidies
B. loan guarantees
C. low interest rate loans
D. All of the above
