Tag: trade

Questions Related to trade

Parliament of European Union was elected by ________.

  1. European Council

  2. European Union Citizens

  3. European Economic Community

  4. Court of Justice of European Union


Correct Option: B
Explanation:

European Union Citizens elected the Parliament of European Union by the power of vote it mainly includes citizens of European Countries.

How many stars are there on the European Flag?

  1. 9

  2. 15

  3. 12

  4. 20


Correct Option: C
Explanation:

The number twelve is traditionally the symbol of perfection, completeness and unity (12 hours in day, 12 months in a year, etc). The 12 stars do not represent the 12 countries who were the original member states.

How many countries were members of the Eurozone when Euro coins and banknotes were first circulated on 1st January 2002?

  1. 12

  2. 15

  3. 18

  4. 20


Correct Option: A
Explanation:

Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Portugal, Spain and The Netherlands. Denmark, the UK and Sweden did not adopt the Euro as their currency.

Identify the founding member committee of European Union.

  1. Belgium

  2. France

  3. Netherland

  4. All of above


Correct Option: D
Explanation:

The European Union has  six founding countries Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands.

Where is the headquarter of EU?

  1. Rome

  2. Geneva

  3. Berlin

  4. Brussels


Correct Option: D
Explanation:

The European Union is a political and economic organisation of 28 nations in Europe established in 1993. It is headquartered in Brussels, Belgium. 

What is the composition of the Council?

  1. Ministers of the Member States

  2. Ministers of the Non-Member States

  3. Representatives elected by the European Parliament

  4. None of these


Correct Option: A
Explanation:

The Council comprises ministers of the Member States. Its membership changes according to the matter under discussion, for instance it comprises national ministers of agriculture if agriculture is the topic under discussion. Unlike members of the European Commission, who are required to act independently of national governments, members of the Council represent national interest. The Presidency of the Council is held by each Member State, in turn, for six months.

In which year did the European Union get the noble prize?

  1. 2012

  2. 2014

  3. 2015

  4. 2016


Correct Option: A
Explanation:

In 2012, the EU won the Nobel Peace Prize for "Transforming Europe" from a continent of war to a continent of peace."

Which of the following has a reputation for being a 'reluctant' member of the European Union?  

  1. France

  2. Germany

  3. United Kingdom

  4. Vetican


Correct Option: C
Explanation:

This reluctance was most in evidence shortly after Britian joined the EU in 1973. Two years later, a referendum was held asking voters whether they wanted to remain in the EU. The great majority of members of the Conservative Party were extremely hostile to the EU during the 1990s.

What is meant by the 'legal base' of an EU measure?

  1. The draft measure proposed by the European Commission

  2. The Treaty article conferring the power to legislate in a particular area

  3. Both a and b

  4. None of these


Correct Option: B
Explanation:

EU measures, generally comprising secondary legislation, can only be adopted by the EU institutions if the Treaty confers on them the power to legislate in the relevant area. The 'legal base' of an EU measure is the Treaty article conferring that power. The Treaty article forming the legal base also sets out the procedure and the voting requirements in the Council - unanimity, simple majority, or qualified majority - for the adoption of the legislation.

How does qualified majority voting currently operate in European Union?

  1. Any one Member State can veto a legislative proposal

  2. As a system of votes

  3. As a system of weighted votes

  4. All of these


Correct Option: C
Explanation:

Qualified majority voting operates as a system of weighted voting. The larger the Member State, the more votes it holds. For instance the larger Member States, such as France and Germany, hold 29 votes each and the smallest, Malta, holds only 3 votes.