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EU Economic Policy - 1st mid-term test Flashcards | StudBud
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EU Economic Policy - 1st mid-term test
EU Economic Policy - 1st mid-term test
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1
Which are the current market organizations of the Common Agricultural Policy (CAP)?
Free trade agreements eliminating all tariffs on agricultural products
Domestic market regulations, i.e. intervention purchases, production quotas
Import regulations including variable levies and preferential access
Export regulations, especially GATT’s Uruguay Round in 1994
2
What are the two key principles guiding the CFP as interpreted by the ECJ?
Relative stability in fishing rights among MSs
Proportional distribution of agricultural subsidies
Equal access to fishing grounds
Equal access to agricultural lands
3
Cohesion policy is the EU’s main investment policy
True
False
4
MFF is an expression of long-term EU political priorities as it determines how much EU may spend over period of 7 years
False
True
5
Which two flagship initiatives of the Europe 2020 strategy were focused on the industrial sector?
‘An industrial policy for the globalisation era’
‘Youth on the Move’
‘Innovation Union’
‘European platform against poverty’
6
Which of the following are core substantive norms of EU competition law addressed to undertakings?
The requirement for all firms to engage in price fixing
The prohibition of abuse ofdominant position
Merger control
The cartel prohibition
7
The economic case for ICP is based on market failure: externalities and uncompetitive markets
False
True
8
The main purpose of competition policy is generally seen as protecting the market mechanism from breaking down.
True
False
9
Which of the following funds are involved in delivering the EU Cohesion Policy (2021-2027)?
The European Social Fund (ESF)
The European Regional Development Fund (ERDF)
The Just Transition Fund (JTF)
The Cohesion Fund (CF)
10
Select correct statements about NUTS classification
Transition regions = GDP per inh. is between 50% and 90% of EU-27 average
Less developed regions = GDP per inh. is less than 75% of EU-27 average
Less developed regions = GDP per inh. is less than 50% of EU-27 average
Transition regions = GDP per inh. is between 75% and 100% of EU-27 average
11
Which country was the last to join the European Union?
Croatia
Romania
Slovenia
Bulgaria
12
Purpose/Rationale of EU competition policy
Promoting anti-competitive agreements
Promoting the consumer interest/welfare
Maintaining ‘effective competition’
Promoting market integration
13
What mechanisms are commonly used to encourage firms to invest in R&D, ensuring they can appropriate the benefits?
Tax incentives for sales
Patents and public funding of basic research
Public recognition awards
Unlimited copyright protection
14
EU Cohesion Policy aims to
To create a joint European military force
To strengthen economic, social, and territorial cohesion.
To correct imbalances between countries and regions
To enhance the green and digital transition
15
What are the three objectives of the EU's rural development policy as stated in the regulation?
Protecting the environment and landscape
Boosting the efficiency of the energy sector
Enhancing the competitiveness of the agricultural sector
Raising living standards in rural areas and encouraging diversification
16
Which EU institution consists of a greater number of representatives per member state?
European Commission
European Parliament
European Council
European Court of Justice
17
Which three headings are largest categories of expenditure inEU budget as per the combined allocations of MFF and NGEU?
Migration and Border Management
Cohesion, Resilience and Values
Natural Resources and Environment
Single Market, Innovation and Digital
18
Which of the following are considered divergence forces that may accompany the EU integration process?
The gain of macro-policy powers in peripheral regions
Economies of scale
Localization and agglomeration economies
Uniform labour migration
19
How many member countries does the European Union (EU) currently have?
28
15
27
20
20
Which territories receive special attention and investment tools under EU Cohesion Policy to address specific issues?
Remote, islands, mountainous or sparsely populated areas
Outermost regions
Border regions through cross-border cooperation
Urban areas
21
Who approves EU laws?
European Parliament
European Commission
Council of the European Union
European Court of Justice
22
The EU budget, unlike national budgets, has a multiannual nature and is based on a multiannual financial framework (MFF)
True
False
23
Which of the following are sources of financing for the EU budget?
Contributions from non-EU countries to certain programmes
Custom duties
VAT
GNI
24
How has the distribution of state aid shifted in the European Union in recent years?
A rise in horizontal programmes focusing on overall competitiveness
Increased aid for traditional industries like steel and shipbuilding
Decreased emphasis on employment, R&D, SMEs, and environmental concerns
More state aid allocated to sector-specific subsidies
25
What does the EU budget forecast in terms of appropriations?
Commitments, legal pledges to provide finance,if certain conditions are met
Differentiated appropriations
Only the immediate financial requirements for ongoing projects
Payments, involving cash or bank transfers to the beneficiaries
26
Starting in 2021, what new contribution factor was introduced to the EU budget system?
A contribution related to the volume of exported plastic products
A fee based on the usage of renewable energy sources
A contribution based on the amount of non-recycled plastic packaging waste
A levy on carbon emissions from manufacturing
27
The internal market of EU is a single market in which free movement of goods, services, capital and persons is assured
True
False
28
How much of the total EU budget for the period 2021-2027 is set aside for Cohesion Policy?
€ 192 billion
€ 792 billion
€ 592 billion
€ 392 billion
29
Which of the following are aims of the reformed Common Agricultural Policy (CAP) for 2023-2027?
To centralize agricultural policy decision-making
To increase the agricultural sector's contribution to EU climate goals
To provide more targeted support to smaller and young farms
To offer greater flexibility for MSs to tailor measures to local conditions
30
Which principles are central to the European Common Agricultural Policy (CAP)?
Priority to import agricultural products over domestic production
Complete liberalization of agricultural markets without budgetary support
Focus on technological innovation exclusively
Financial solidarity and preference for domestic agricultural products
31
When was the single market finally established/put into force?
2000
2012
1985
1993
32
What does the current state of the EU budget imply about the EU's powers?
MSs retain tight control over EU revenue and expenditure
Distributional issues are very difficult for the EU
The European Council controls EU budget
EU is having the powers of a nation state
33
What types of policies are encompassed by ICP to enhance a country's economic performance?
Circular policies,focused on sustainable resource use in business practices
Horizontal - aimed at providing a supportive environment for all businesses
Vertical policies, designed to favor specific sectors of the economy
Diagonal policies, targeted at creating individualized business models
34
Which types of externalities are considered important for Industrial and Competitiveness Policy (ICP)?
Network interactions
Agglomeration/localization
Consumer preferences
Knowledge creation
35
What does the "other" revenue category of the EU budget include?
Taxes paid by EU staff on their salaries
Surplus from the previous year's budget
Fines paid by companies found in breach of competition laws or other laws
Contributions from non-EU countries to certain programmes
36
Which of the following are key principles of EU Cohesion Policy
Immediate allocation and spending of funds upon receipt
Programming
Partnership
Concentration of resources, effort and spending
37
What was the intended purpose of the Treaty on the European Constitution signed in 2004?
Launching the economic and monetary union
Expanding the European Coal and Steel Community
Replacing and consolidating all existing EU treaties
Completing the single market
38
The current Common Fisheries Policy (CFP) has been shaped in response to which of the following factors?
Innovations in renewable energy sources
Biological factors related to stock conditions
Political factors including protection of national interests
Economic factors including the Single European Market
39
Which of the following is NOT a 2021-2027 EU cohesion policy objective?
A more social and inclusive Europe
A less connected Europe by reducing mobility
Europe closer to citizens
A more competitive and smarter Europe
40
What are the focus areas of the updated European Industrial Strategy in May 2021?
Addressing the EU’s strategic dependencies
Accelerating the green and digital transitions
Supporting SMEs and start-ups
Enhancing the resilience of the EU single market
41
Acceptable types of state aid include
Outright financial subsidies
The sale or lease of goods and real estate belowmarket prices
Social aid to consumers
Certain regional aid
42
How is the funding for the Common Agricultural Policy (CAP) for the 2021-27 period allocated between its two pillars?
The European agricultural guarantee fund (EAGF) - "first pillar"
European agricultural fund for rural development (EAFRD) - “second pillar”
The European agricultural guarantee fund (EAGF) - "second pillar"
European agricultural fund for rural development (EAFRD) - “first pillar”
43
Why has the agricultural sector historically been subject to specific policy regulations?
Agricultural income
Stability of markets
To increase dependency on imported goods
To ensure food security and address environmental concerns
44
Which of the following events are correctly paired with their respective time periods in the context of the EU?
Rule of Law crisis begins - 2008
Brexit - 2016-2020
Global Financial Crisis - 2007-2010
Constitutional Treaty veto by France and the Netherlands - 2005
45
What are the objectives of the EU's Cohesion Policy?
Economic growth
Job creation and business competitiveness
Sustainable development
Improvements to citizens’ quality of life
46
What has the single market achieved since its creation?
Limited economic growth
Reduced trade barriers
Decreased competition
Created jobs
47
Among the next generation of EU own resources, the following are NOT included:
Emissions Trading System own resource
GNI, VAT, custom duties
Statistical own resource based on company profits
Carbon border adjustment mechanism own resource
48
What is the primary purpose of the EU's NUTS classification system?
Setting tax rates for businesses across different regions
Dividing EU economic territory for statistical/policy application purposes
Promotion of cultural heritage
Promotion of sustainable development
49
What is the total allocation for the Common Agricultural Policy (CAP) for the 2021-27 period?
€95.5 billion
€291.1 billion
€387 billion
€8 billion
50
Which categories of the EU's own resource revenue each typically account for around 10%?
Contribution based on the amount of non-recycled plastic packaging waste
VAT
GNI
TOR
51
Which are the key justifications for the EU's Regional Policy (RP) being complementary to those of the individual MSs?
EU ability to collect and target funds on the most disadvantaged regions
The EU's goal to centralize all economic decision-making at the EU level
The mutual self-interest of MSs in addressing regional problems
The aim to improve coordination of regional policy efforts across the EU
52
The fisheries sector, comprising fishing, fish processing and aquaculture, is big in the EU
True
False
53
The Treaty of Rome, signed in 1957, created the European Economic Community.
True
False
54
What were the primary objectives of the Programme for the Competitiveness of Enterprises and SMEs (COSME) (2014-2020)?
To foster an entrepreneurial culture and promote SME growth
To strengthen the competitiveness of Union enterprises, especially SMEs
the advancement of the knowledge society
to support existing SMEs,
55
The Treaty of Maastricht, signed in 1992 Cleared way for economic and monetary union and created 3 pillars under new EU
True
False
56
EU regional disparities exhibit core-periphery pattern with disadvantaged areas being located in EU's west and north
True
False
57
In the TFEU, additional specific competition rules pertain to:
State aid
Public undertakings
Public procurement processes
Trans-European networks
58
What are the primary constraints on policy-makers of the Common Agricultural Policy (CAP)?
National sovereignty in policy decision-making
The influence on non- agricultural pressure groups
Unlimited budget allocation
International trade agreements
59
What trend involves decentralization of CP to member states' authorities, coordinated by the Commission?
Rationalization
Globalization
Privatization
Modernization
60
Regions eligible for support from cohesion policy have been defined at NUTS 1 level
False
True
61
Which of the following types of regions does the EU consider as facing significant regional problems?
Regions experiencing industrial growth
Declining fishing and rural areas
Outermost territories
Lagging regions with very low GDP per capita
62
What areas of focus have seen increased funding as part of the changing priorities in R&D Policy?
Large-scale industrial collaborations
Specific industrial projects
The researchers' development (‘people’)
Infrastructure and SMEs research support ('capacities')
63
When was the rural development policy, known as the second pillar of the CAP, formally created?
In the 1990s with the introduction of most policy instruments
During the 1970s and 1980s as part of EU structural policy
Under the Agenda 2000 reforms
It has always been a part of CAP since its inception
64
Following the 2008 financial crisis and other recent challenges, regional disparities intensified
False
True
65
What is the total financial package provided by the EU's long-term budget for 2021-2027 and NGEU recovery instrument
€807 billion
€1 billion
€1 216 billion
More than €2 trillion
66
Broad categories of EU revenues include
Miscellaneous (other)
Own resources
Traditonal own resources
Bank profits
67
Industrial and competitiveness policy can be defined as gov. policy designed to improve a country’s economic performance
True
False
68
Which country was the largest net contributor to the EU budget in 2022?
The Netherlands
Germany
Poland
France
69
What do Traditional Own Resources (TOR) of the EU budget primarily consist of?
Contributions based on Gross National Income (GNI)
Customs duties, agricultural duties, and sugar levies
Income taxes and corporate taxes
Value Added Tax (VAT) revenues
70
Which criteria determine the categorization of regions within the NUTS 2 level for receiving Cohesion Policy support?
Historical landmarks and cultural heritage
The number of universities and research institutions
Military and defense importance
GDP per capita in relation to the EU-27 average
71
Which of the offered countries are not members of the European Union?
Iceland
United Kingdom
Liechtenstein
Norway
72
Which of the following are considered main policy areas (since January 2014) of the Common Fisheries Policy (CFP)?
Fisheries management
Agricultural Management
International and trade policies
Seafood markets
73
Who is the current president of the European Commission?
Roberta Metsola
Jean-Claude Juncker
Charles Michel
Ursula von der Leyen
74
The Treaty on the European Constitution came into force in 2007
True
False
75
European Commission
consists of (only) one representative/member per EU country
manages the budget
makes proposals for EU laws
represents the interest of the EU as a whole
76
Over time, ICP instruments have shifted from non- tarif barriers to tarifs
False
True
77
Which of the following are examples of initiatives contributing to EU industrial policy?
Horizon Europe (2021-2027)
COSME
Erasmus+ Programme
Agricultural Fund
78
What is the predominant component of the EU's own resources system, accounting for more than 70% of its revenue?
Custom duties
VAT
TOR
GNI
