Business Law Chapter 15 The European Central Bank The Eurozone Bank

subject Type Homework Help
subject Pages 9
subject Words 2064
subject Authors Filiberto Agusti, Lucien J. Dhooge, Richard Schaffer

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35. The representatives who serve on the European Commission are appointed by:
a. The representative's own government.
b. The Assembly.
c. The Court of Justice.
d. The Council.
36. The goals of the Maastricht Treaty included
a. Promoting social progress and cohesion.
b. Assertion of the EU's identity on the international scene.
c. Protection of the rights and interests of the Nationals of member states by introduction of a citizenship of the
Union.
d. A and B only.
e. A, B, and C.
37. A is binding and directly applicable in all member states; and a sets forth the result to be achieved but
leaves to the individual states the responsibility to employ the appropriate steps:
a. Regulation; directive.
b. Rule; resolution.
c. Resolution; rule.
d. Directive; regulation.
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38. The agreement that officially formed the European Community was:
a. The European Economic Community Act.
b. The Treaty of Rome.
c. GATT.
d. Organization for Economic Cooperation & Development.
39. The EU's structure consists of:
a. Council of Ministers.
b. Court of Justice.
c. Parliament.
d. B and C only.
e. A, B, & C.
40. The Four Freedoms include:
a. Capital.
b. People.
c. Goods.
d. All of the above.
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41. Which of the following is not one of the Parliament's powers?
a. Serve as consultative body (to council) on legislative proposals.
b. To censure the commission.
c. Elect representatives to the commission.
d. All are assembly powers.
42. Members of the EU include the following countries except:
a. France.
b. Luxembourg.
c. Italy.
d. Switzerland.
e. All of the above are members.
43. Free movement of people in the EU:
a. Allows EU residents to travel, live, study and work in other EU member states.
b. Is not subject to any limitations whatsoever.
c. Still requires border controls between most member states.
d. Allows for immigration to the EU that was previously deemed illegal.
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44. The allocation of power between the EU and the member states is governed by all of the following except:
a. Exclusive competence.
b. Shared competence.
c. Limited competence.
d. Supporting competence.
45. The General Court was established to reduce the workload of the European Court of Justice. Its jurisdiction is limited
to:
a. Appeals of the Commission's decisions on mergers and acquisitions.
b. Hearing cases between EU institutions and their employers.
c. Appeals related to penalties imposed for Non-European Community companies' price-fixing.
d. All of the above.
e. A and C only.
46. The act that made it easier for the Council to act by requiring only a qualified majority for many types of directives
was:
a. Autonomous Council Act.
b. Free Trade Act.
c. Binding Directives Act.
d. Single European Act.
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47. The signing of the Treaty of Paris by the original six members of the European Community established which of the
following:
a. GATT.
b. European Atomic Energy Commission.
c. European Coal & Steel Community.
d. The Single European Act.
48. The greatest level of economic integration occurs:
a. In a common market.
b. A customs union.
c. A free trade area.
d. In the WTO.
49. In order to participate in the Monetary Union, Maastricht requires European Union members to achieve all of the
following except:
a. A budget deficit of no greater than 3% of the GDP.
b. An inflation rate within 1.5% of the three best nations.
c. Exchange rate stability.
d. Maastricht requires all three.
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50. The appropriate EU court with original jurisdiction to hear complaints about violation of the European Convention on
Human Rights and the Anti-Torture Convention.
a. International Court of Justice
b. European Court of Justice
c. International Criminal Court
d. European Court of Human Rights
51. Prolonged negotiations for membership in the EU constitute an effective veto of membership, as in the case of which
country?
a. Latvia
b. Turkey
c. Croatia
d. Pakistan
52. Which institution is in charge of monetary policy relating to the euro?
a. The European Central Bank
b. The Eurozone Bank
c. The World Trade Organization
d. The International Court of Justice
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53. Since 2008, the Eurozone has experienced a financial crisis. Two of the weakest economies that have negatively
impacted the entire Eurozone are:
a. Germany and Greece
b. Greece and Turkey
c. Greece and Spain
d. Germany and Spain
54. In response to the recent financial crisis, the Eurozone states launched a permanent funding program for the rescue
of states undergoing financial crisis called the:
a. Eurozone Crisis Act.
b. European Fiscal Compact.
c. European Stability Mechanism.
d. None of the above
55. In what ways are the nations of the European Union similar to and different from the states of the USA?
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56. Compare and contrast the EU with NAFTA.
57. Describe the similarities between and among customs unions, free trade areas, and common markets (giving
examples of each).
58. Compare and contrast the European Court of Justice with the U.S. Supreme Court.
59. Compare and contrast EU directives with regulations, giving examples of each.
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61. Compare and contrast EU Directives with EU Regulations. Which would the EU as a whole favor? Which would
individual countries favor?
62. Write a memorandum advocating for or against the entrance of Turkey into the EU.
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Essay
63. The German government recently adopted a law defining "beer" as any alcoholic beverage brewed in compliance
with customary German brewing practices dating back to the year 1516. These practices mandate specific
procedures for every step in the brewing process. Only natural ingredients are to be used in the brewing process.
The use of additives is specifically prohibited. As a result, imported alcoholic beverages labeled and sold as "beer" in
other states were prohibited from being sold as "beer" in Germany. Instead, such products could only be sold as "malt
beverages." The stated purposes of this law were to protect the public from products that contain additives and
prevent confusion by German consumers who associate the term "beer" with traditional German brewing standards.
The German law was challenged in court by Venezia Brewing Limited (VBL), an Italian company that wished to sell
its malt beverage containing additives as "beer" in Germany. VBL claimed that the German law was inconsistent
with a European Union regulation that established standards for but did not ban the use of additives in malt
beverages. Does the German law violate European Union law, including the regulation? Why or why not? Would
your answer be different if the European Union law was in the form of a directive that had not yet been
implemented by Germany? Why or why not? Does VBL have standing to challenge the German law? Why or why
not?

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