MGMT 346 Final Exam Study Guide
Member Countries of the EU - ANS-Austria, Belgium, Bulgaria, Croatia, Republic of
Cyprus, Czech Republic,
Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia,
Lithuania,
Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia,
Spain, and
Sweden. (27 countries since BREXIT)
In what areas is the EU granted exclusive power? - ANS-the customs union, common
trade policy, competition law, and monetary policy.
What did the Treaty of Rome create, and what process did it launch? - ANS-created the
European Economic community in 1957, with 6 member countries. It launched the
process of establishing a customs union while turning over international trade policy to
the commission. Also launched internal multinational regulation, as it contained
competition law calculated to precent the creation of market-wide private combinations
in restraint of trade.
What is the Maastrich Treaty? - ANS-After the passage of the "Single European Act"
(where there were then 12
member countries), the EU leaders met in Maastricht, Netherlands to create an
agreement
What did the Maastrich traty do? - ANS-advanced economic integration and set the
stage to measure a political integration. Established
"EU citizenship" which facilitated the movement of labor and set the stage for the
European
currency (Euro).
What is BREXIT? - ANS-British Exit from the EU
How many participants voted to leave? When did free movement of people end? -
ANS-51.9% of participants voted to leave. ended on december 31, 2020
What are the Four EDU Directives? - ANS-free movement of goods, free movement of
services, free movement of capital, and free movement of people
, what is the free movement of goods? - ANS-prohibits customs duties and taxes on
imports and exports, prohibits quantitative restrictions or other non-tariff barriers, once a
good has entered a member state from a non-member state, it may circulate freely
Free Movement of Services - ANS-Treaty of Rome prohibits restrictions on service
providers from a member state who provides services in another member state.
Discriminatory restrictions are prohibited, foreign service providers must receive the
same treatment as domestic service providers
Free Movement of Capital - ANS-Capital may be moved freely in any amount between
member states, cannot be subject to charges other than purely domestic charges (ie.
credit card and debit transactions are deemed domestic transaction), creation of "Euro",
currently in use in 19 EU member countries, eliminates cost of currency conversion and
saves $10million annually
Free Movement of People - ANS-EU residents have freedom to travel, work, study, and
live in another member state. Unconditional right to travel to another member state,
unconditional right to reside in another member state for up to three months. After 3
months, the right to reside is conditional upon> work, self-sustaining or student. Free
from nationality discrimination with
respect to employment, pay and conditions of employment, close family member may
accompany, after 5 years = permanent residency
What does the Common Agricultural Policy (CAP) do? - ANS-import levies are applied
to specific goods imported into the EU.
import quotas are used as a means of restricting the amount of food being imported into
the EU.
an internal intervention price is set and if the price falls below the intervention level then
the EU
will buy up the goods to raise the price to the intervention level.
What benefits does the CAP create? - ANS-increases agricultral productivity, provides
fair standard of
living for agricultural communities, stablizes markets, guarantees regular supplies,
reasonable
prices to consumers.
How are farmers directly benefited by CAP? - ANS-Direct subsidies are paid to
farmers for cultivated land which takes up to 48% of the EU's total budget.
Member Countries of the EU - ANS-Austria, Belgium, Bulgaria, Croatia, Republic of
Cyprus, Czech Republic,
Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia,
Lithuania,
Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia,
Spain, and
Sweden. (27 countries since BREXIT)
In what areas is the EU granted exclusive power? - ANS-the customs union, common
trade policy, competition law, and monetary policy.
What did the Treaty of Rome create, and what process did it launch? - ANS-created the
European Economic community in 1957, with 6 member countries. It launched the
process of establishing a customs union while turning over international trade policy to
the commission. Also launched internal multinational regulation, as it contained
competition law calculated to precent the creation of market-wide private combinations
in restraint of trade.
What is the Maastrich Treaty? - ANS-After the passage of the "Single European Act"
(where there were then 12
member countries), the EU leaders met in Maastricht, Netherlands to create an
agreement
What did the Maastrich traty do? - ANS-advanced economic integration and set the
stage to measure a political integration. Established
"EU citizenship" which facilitated the movement of labor and set the stage for the
European
currency (Euro).
What is BREXIT? - ANS-British Exit from the EU
How many participants voted to leave? When did free movement of people end? -
ANS-51.9% of participants voted to leave. ended on december 31, 2020
What are the Four EDU Directives? - ANS-free movement of goods, free movement of
services, free movement of capital, and free movement of people
, what is the free movement of goods? - ANS-prohibits customs duties and taxes on
imports and exports, prohibits quantitative restrictions or other non-tariff barriers, once a
good has entered a member state from a non-member state, it may circulate freely
Free Movement of Services - ANS-Treaty of Rome prohibits restrictions on service
providers from a member state who provides services in another member state.
Discriminatory restrictions are prohibited, foreign service providers must receive the
same treatment as domestic service providers
Free Movement of Capital - ANS-Capital may be moved freely in any amount between
member states, cannot be subject to charges other than purely domestic charges (ie.
credit card and debit transactions are deemed domestic transaction), creation of "Euro",
currently in use in 19 EU member countries, eliminates cost of currency conversion and
saves $10million annually
Free Movement of People - ANS-EU residents have freedom to travel, work, study, and
live in another member state. Unconditional right to travel to another member state,
unconditional right to reside in another member state for up to three months. After 3
months, the right to reside is conditional upon> work, self-sustaining or student. Free
from nationality discrimination with
respect to employment, pay and conditions of employment, close family member may
accompany, after 5 years = permanent residency
What does the Common Agricultural Policy (CAP) do? - ANS-import levies are applied
to specific goods imported into the EU.
import quotas are used as a means of restricting the amount of food being imported into
the EU.
an internal intervention price is set and if the price falls below the intervention level then
the EU
will buy up the goods to raise the price to the intervention level.
What benefits does the CAP create? - ANS-increases agricultral productivity, provides
fair standard of
living for agricultural communities, stablizes markets, guarantees regular supplies,
reasonable
prices to consumers.
How are farmers directly benefited by CAP? - ANS-Direct subsidies are paid to
farmers for cultivated land which takes up to 48% of the EU's total budget.
