Europe Economics Practice

The European Union was created to

• practice reaching consensus.
• isolate Russia and make it work alone.
• promote the French franc as the money unit.
• make Europe more competitive in world markets.

Which of the following is NOT true in regards to the EU?

• The EU government  handles training of individual armies from different countries.
• There are no tariffs between EU countries.
• Citizens can live and work in any EU nation.
• The EU government handles trade issues between two EU nations.

What is the currency of MOST EU countries?

• franc
• euro
• dollar
• pound

In the United Kingdom, who makes the economic decisions?

• custom and habit
• government planners
• consumers and the market
• farmers

Which European country's government owns most of the large and important industries within its borders?

• Germany
• Russia
• United Kingdom
• United States

Which is LEAST likely to be found in Europe?

• capitalism
• market economy
• command economy
• traditional economy

Which EUROPEAN country shown on the diagram has the LEAST free economy?

• Cuba
• Russia
• Germany
• United Kingdom

Because most economies have characteristics of the command economy and the market economy, we say they are

• free.
• hybrid.
• mixed.
• communist.

In which country would it be most difficult for a person to start a business?

• Russia
• Germany
• United Kingdom
• about the same for each

Which European country would be the easiest to start and run your business without a lot of government interference?

• Germany

• Russia

• United Kingdom

• United States