Gains from the Single European Act Were Expected to Be

question 66

Multiple Choice

Gains from the Single European Act were expected to be from

• A)reduction of transactions costs from having a single currency.
• B)reduced trade barriers and customs problems.
• C)increased competition and economies of scale.
• D)harmonization of environmental and labor standards.

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Definitions:

Dutch Loans

Financial loans provided by the Dutch to other countries or entities in the past, significant in early American history for helping to finance the American Revolutionary War.

Revolutionary War

The conflict between the thirteen American colonies and Great Britain (1775-1783) leading to American independence.

Chesapeake Gentry

Refers to the affluent, land-owning class in the Chesapeake Bay region during the colonial and early United States periods, characterized by their plantation economy and reliance on indentured servants and slaves.

Scottish Settler

An individual from Scotland who relocates to another country, often in the context of historical migrations.