1) All EU member states, except Denmark (opt-out clause), are obliged to adopt the euro and join the eurozone as soon as they meet the required conditions. a) True b) False 2) The functioning of the European single market is still hindered by certain barriers, e.g., fragmented tax systems of member countries. a) True b) False 3) The ECB's inflation target measured by the HICP index is 2.5% per year (+/- 1). a) True b) False 4) A similar economic policy pursued by individual countries leads to their convergence in the long term a) True b) False 5) The euro is a basket currency. a) True b) False 6) Examples of cartel practices are: a) price fixing b) market division c) agreements on customer allocation d) agreements on limiting production volumes 7) What actions are prohibited for enterprises under the Competition Policy? a) forming cartels b) abusing dominant position c) price fixing d) merging 8) When shocks are asymmetric: a) a common central bank handles them b) a common central bank cannot handle them c) intergovernmental cooperation is necessary d) monetary union creates more costs than monetary independence 9) According to one of the convergence criteria, the maximum inflation rate in a country can be: a) 1.5% above the average inflation rate in the three countries with the lowest inflation b) 2% above the average inflation rate in the three countries with the lowest inflation c) 3% above the average inflation rate in the three countries with the lowest inflation d) there was no such criterion 10) The euro is also the currency of some non-EU countries (and outside the eurozone): a) Andorra b) Denmark c) Switzerland d) Kosovo

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