Unit 1, Topic 2

Question 1

The EU has issued a new regulation. This means that each member state:
A) Has the choice whether to adopt the regulations
B) Must pass legislation to implement the regulation within 2 years
C) Is bound by the regulation in its entirety regardless of existing legislation
D) Has a choice of how to adopt the regulations objectives

Answer 1

C) Is bound by the regulation in its entirety regardless of existing legislation

Question 2

Post-Brexit, which of the following is correct when the EU changes a regulation or introduces new regulation?
A) The UK is legally required to adopt and implement the new or reformed EU regulation
B) The UK is legally required to ignore the new or reformed regulation entirely
C) The UK should consider whether it adopts a new regulation or develops its own alternative approach: and, in the case of reformed EU regulation, whether it wishes to amend the legislation it on shored before Brexit.

Answer 2

C) The UK should consider whether it adopts a new regulation or develops its own alternative approach: and, in the case of reformed EU regulation, whether it wishes to amend the legislation it on shored before Brexit.

Question 3

Disinflation means that:
A) Prices are rising faster that previously
B) Prices are falling
C) Prices are rising but more slowly than previously
D) Prices are staying the same

Answer 3

C) Prices are rising but more slowly than previously

Question 4

Which of the following economic measures taken by a government would not help to achieve a budget surplus.
A) Increasing taxation
B) Increasing public spending
C) Reducing public spending

Answer 4

B) Increasing public spending

Question 5

A new piece of EU legislation is being introduced. It is being implemented at the same time and in exactly the same way across all member states. This indicates that the legislation is in the form of:
A) A directive
B) A regulation

Answer 5

B) A regulation

Question 6

All governments aim to achieve zero inflation. True or False

Answer 6

False