Which of the Following Statements Is True of the European

question 68

Multiple Choice

Which of the following statements is true of the European Union?

• A) The European Union was formerly called the European Council.
• B) Every country in the European Union has adopted the euro as its monetary unit.
• C) Custom duties have been removed among member nations of the European Union.
• D) A majority vote of existing EU members is needed to admit a new member country.

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Definitions:

Organizational Effectiveness

The measure of a organization's ability to achieve its goals and objectives in an efficient and productive manner.

Satisfied Customers

Customers who have their needs and expectations met or exceeded by a company's products or services, which often leads to repeat business and positive word-of-mouth.

Bottom-line Profits

The net income a company earns after all expenses and taxes have been deducted from total revenue.

Organization Chart

A diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.