A. Elimination of border controls
B. No import taxes on goods bought in another members country
C. Each country can retain its own technical standards
D. Common security arrangements
Related Mcqs:
- 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 - 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 - Which market is called Bear market ?
A. Market with upward and stock prices.
B. Market with a prolonged period of falling stock prices
C. A very big market
D. A very big industrial market - If a market generates a side effect or externlity then free market solutions ?
A. maximize producer surplus
B. are efficient
C. are inefficient
D. are equitable - When one firm in the breakfast cereal market started an advertising campaign that stressed the nutritional value of its cereals, all other cereal manufacturers started similar advertising campaign This suggests that the breakfast cereal market is ?
A. monopolistically competitive
B. oligopolistic
C. perfectly competitive
D. indeterminate from this information - If the price elasticity of demand for a product in market A is -0.2 and in market B is -3 a price discriminator will charge ?
A. The higher price in market A
B. The higher price in market B
C. The same Price in both markets
D. Cannot tell which price will be higher - Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ?
A. the change in the equilibrium quantity to be ambiguous and the equilibrium price to fall.
B. the equilibrium quantity to rise and the equilibrium price to rise
C. the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous
D. the equilibrium quantity to rise and the equilibrium price to fall
E. the equilibrium quantity to rise and the equilibrium price to remain constant - one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?
A. quickly
B. slowly
C. very infrequently
D. instantly
