Describe how the European Union (EU) has made significant progress over the past decade in becoming a unified market.
What will be an ideal response?
The European Union (EU) has made significant progress over the past decade in becoming a unified market. In 2003 it consisted of 15 nations: Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Greece, the Netherlands, Ireland, Italy, Luxembourg, Portugal, Spain, and Sweden. In May 2004, 10 additional countries joined the EU: Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia. In January 2007, Romania and Bulgaria acceded to the EU, and in July 2013, Croatia became the 28th and newest member of the EU. Not only have most trade barriers between the members been removed, but a subset of European countries has adopted a unified currency called the euro.
As a result, it is now possible for customers to compare prices between most countries and for business firms to lower their costs by conducting business in one uniform currency. Even though long-standing cultural differences remain, and the European Union has recently experienced some substantial challenges, the European Union is more integrated as a single market than NAFTA, CAFTA, or the allied Asian countries.
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What will be an ideal response?
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being able to pay off its short-term line of credit? A) the acid test ratio B) the fixed asset turnover C) the operating profit margin D) return on equity
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Answer the following statement true (T) or false (F)