ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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While each country makes its own laws and has its own government, they agree together to follow certain rules that apply to all member countries
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All member countries form one government that makes laws for the citizens of each country; all member countries MUST follow these laws to remain in the EU
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Each member country can make its own laws; however, the government of the EU can overrule these laws and create new ones
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Member countries do not have to follow any of the same rules to belong to the EU; however, to have voting power in the EU, the member countries must be following EU rules
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Detailed explanation-1: -EU Member States and institutions At the core of the EU are its 27 Member States and their citizens. The unique feature of the EU is that although the Member States all remain sovereign and independent states, they pool together some of their sovereignty in areas where this has an added value.
Detailed explanation-2: -The EU is the main trading partner of developing countries, and the main provider of development aid. The contributors to this book evaluate critical aspects of EU trade and aid policies in order to ascertain whether, and to what extent, they help promote growth and accelerate the development of the Third World.
Detailed explanation-3: -The European Union is the main institutional partner of the Council of Europe in political, legal and financial terms. Co-operation embraces all sectors of the Council of Europe and a wide spectrum of activities, making the European Union an “across the board” partner.
Detailed explanation-4: -The UK is a former EU member state that left the EU in January 2020. Following the Brexit negotiations, the EU-UK relationship is governed by agreements that ensure respect for citizens’ rights, fair competition and continued cooperation in areas of mutual interest.