Three South American countries enter into an agreement to remove all tariffs and trade barriers between them. They decide on a common external trade policy and charge the same tariffs. Which level of economic integration best describes this arrangement? Question 4 options: political union customs union common market economic union monetary union
Three South American countries enter into an agreement to remove all tariffs and trade barriers between them. They decide on a common external trade policy and charge the same tariffs. Which level of economic integration best describes this arrangement? Question 4 options: political union customs union common market economic union monetary union
Chapter18: International Trade And Finance
Section: Chapter Questions
Problem 18SQ
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Question
Three South American countries enter into an agreement to remove all tariffs and trade barriers between them. They decide on a common external trade policy and charge the same tariffs. Which level of economic integration best describes this arrangement?
Question 4 options:
|
political union
|
|
customs union
|
|
common market
|
|
economic union
|
|
monetary union
|
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