Which of the Following Significant Change with Respect to the Development

question 23

Multiple Choice

Which of the following significant change with respect to the development of the European Union took place in January,1993,as a result of the Single European Act?

• A)Becoming a single unified market by removing the restrictions on the free flow of goods,services,and resources among its members
• B)Adopting a common currency for the members
• C)Forming supranational fiscal and monetary agencies
• D)Becoming an economic union

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Definitions:

Corrective Tax

A tax designed to incentivize economic activities that are more socially desirable or to correct market imperfections.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity of that good that consumers are willing to purchase, usually sloping downward.

Pollution

The introduction of contaminants into the natural environment that cause adverse change.

Command-And-Control

Regulatory strategies where the government sets specific limits or commands for compliance, often used in environmental policy to limit pollution.