With the full implementation of the Single European Act, the EU became a(n)
A) common market.
B) free trade area.
C) customs union.
D) economic union.
A
You might also like to view...
The prices typically studied in microeconomics are
a. relative prices. b. absolute prices. c. money prices. d. retail prices.
If the institutions in an economy change from being extractive to inclusive, then in the economy:
A) geographical conditions will improve. B) returns to education will decrease. C) returns to entrepreneurship will increase. D) geographical conditions will deteriorate.
A contingent contract can create production inefficiency; however, many principals accept this because
A) inefficiency is inevitable. B) monitoring is costless. C) risk is reduced. D) profit will increase as a result.
Average total cost is equal to
A. The sum of average variable cost and marginal cost. B. Total cost divided by quantity produced. C. Total cost divided by fixed cost. D. Total cost multiplied by quantity.