Describe the history and consequent deepening as the European Union developed. Which treaties created which level of economic integration? Do countries have the ability to participate in some levels of integration and not others? Give specific examples
What will be an ideal response?
The Treaty of Rome created the basics for a free trade area as well as a political infrastructure for noneconomic integration.
The Single European Act created a common market among the participants and dealt with an outstanding customs union issues.
The Treaty on European Union (or Maastricht Treaty) brought the participating countries into economic union.
Some countries (such as Norway and Switzerland) participate in the common market but are not members of the EU. Only 12 countries currently participate in the treaty on European Union. For example, the UK, Denmark, and Sweden will never be required to use the euro.
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If buyers' tastes and preferences shift in favor of a good, the result is
a. an increase in quantity demanded b. an increase in demand c. an increase in quantity demanded and an increase in supply d. a decline in supply e. an increase in supply
You are a member of your city's cable television regulatory commission. For the third time this year, the local cable provider has come before the commission, asking for a rate increase. This time it is to cover the cost of new, state-of-the-art cable
relay equipment. Last month it was for money for advanced training for cable installers. The time before that, it wanted to cover the cost of new office equipment. How do you explain the cable company's behavior?