Which of the Following Has Resulted from the Formation of the European

question 43

Multiple Choice

Which of the following has resulted from the formation of the European Union?

• A) The elimination of all trade barriers within Europe.
• B) The protection of local industry within Europe.
• C) The strengthening of Europe's position as an economic superpower.
• D) The reunification of Germany.
• E) The adoption of one European language.

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Definitions:

Private Consumption

The spending on goods and services by households for their own use.

Floating Exchange Rate

A currency system where the value of a currency is allowed to fluctuate according to the foreign exchange market.

Discount Rate

The interest rate a central bank charges commercial banks to borrow money.

Premium Rate

Refers to the higher price or rate charged for goods or services perceived to be of higher quality, or in the case of telecommunications, services that offer added value beyond the basic rate.