1- All of the following are part of the Big-5 EU except ___________.

The European Advising Board

Council of European Union

The European Council

The European Commission

2- Which of the following is not a common performance criterion?

economic growth

efficiency

stability

income distribution

all are common performance criteria

3- (True) or (False)? The codecision procedure involves a democratic, one-step process.

Group of answer choices

(True)

(False)

4- (True) or (False)? The tension between the "vanguard" members, who wish to broaden the scope of EU activities, and the "doubters," who do not, did not lead to a new type of integration processes.

Group of answer choices

(True)

(False)

5- The economies of scale basis concept relies on ________.

distributing the fixed costs over larger quantity.

distributing the variable costs over larger quantity.

creating more output per unit of input.

creating more profits and reducing costs.

6- The modern approach to defining economic systems ________.

is based on the "isms" of capitalism and socialism

emphasizes resource allocation arrangements over incentive systems

defines economic systems according to several characteristics

recognizes that defining economic systems is impossible

none of the above

7- (True) or (False)? Parliamentary reform affects national power distributions.

Group of answer choices

(True)

(False)

8- What does "consumer sovereignty" mean?

Central planning is absent,

Consumers elect public officials.

Consumers make the basic decisions on what is to be produced.

Advertising does not affect consumers,

None of the above.

9- Which of the following is not a characteristic of market socialism?

centralized decision making

market allocation

state or collective ownership

combination of moral and economic incentives

none of the above are characteristics of market socialism

10- Based on the Maddison data, the average per capita income since the 1820 has increased _____, and the world real output has increased __________.

five-fold, forty-fold

forty-fold, five-fold

eight-fold, forty-fold

forty-fold, eight-fold