The Most Important Feature of the Single European Act of 1986

question 44

Multiple Choice

The most important feature of the Single European Act of 1986, which amended the founding Treaty of Rome, was dropping the requirement of

• A) unanimous consent for measures related to market completion and making it a decision that only Germany and France agreed about.
• B) unanimous consent for measures related to market completion.
• C) majority consent for measures related to market completion and making it a decision that only Germany and France agreed about.
• D) unanimous consent for measures related to agricultural policies only.
• E) unanimous consent for measures related only to fiscal policies.

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Definitions:

Marginal Utility

The augmented satisfaction or value someone derives from the consumption of an extra unit of a good or service.

Consumer Surplus

Consumer surplus represents the discrepancy between the total price consumers are prepared and able to spend on a product or service and the actual amount they end up paying.

Marginal Utility

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Marginal Utility

Marginal utility represents the additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.