'Section 2(4) of the European Communities Act 1972 Required Courts

question 7

True/False

'Section 2(4) of the European Communities Act 1972 required courts to read legislation in a way that is compatible with applicable European law.' Is this statement true or false?

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Definitions:

Maximizing Utility

The economic principle that individuals seek to achieve the highest level of satisfaction possible from their consumption of goods and services, given their income and the prices of those goods and services.

Marginal Rate

The rate at which one variable changes with respect to a minute increase in another variable, often used in the context of marginal tax rates or marginal rates of substitution in economics.

Market Basket A

A selected set of goods and services used to monitor changes in price levels over time, often for the purpose of calculating inflation.

Utility Maximizing

The act of choosing the combination of goods and services that maximizes a consumer's satisfaction or happiness with a given income.