Which of the following best describes an economic consultative association?
A) It is a group of states that have reduced or eliminated trade barriers among themselves but maintain their individual tariffs in dealing with other states.
B) It is a group of states that exchanges information, coordinates economic policy, and promotes trade cooperation.
C) It is a business firm operating branches, subsidiaries, or joint ventures in two or more states.
D) It is a group of states that have reduced or eliminated trade barriers among themselves and have established a common external tariff.

Question

Quizplus · Accepted Answer

An economic consultative association is a group of states that exchanges information, coordinates economic policy, and promotes trade cooperation. This type of association does not necessarily involve the reduction or elimination of trade barriers or the establishment of a common external tariff.

Which of the Following Best Describes an Economic Consultative Association