Twenty-Seven Countries in Europe Have Eliminated All Tariffs with Each

question 254

Multiple Choice

Twenty-seven countries in Europe have eliminated all tariffs with each other. This group of countries is known as the

• A) European Union.
• B) United Federation of Europe.
• C) Gruppo Euro.
• D) European Free Trade Association.

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Definitions:

Jurisprudence

The theory or philosophy of law; a body of laws or legal principles derived from judicial decisions and legal writings.

Sherman Antitrust Act

A landmark federal statute in the United States passed in 1890 to prevent anti-competitive practices, monopoly, and to promote competition.

Federal Legislation

Laws passed by the federal government of a country, which apply to the entire nation and supersede local laws in areas of federal authority.

Restraint of Trade

A legal concept that seeks to enforce reasonable limitations on business practices to encourage competition and prevent monopolies.