An objective of all of the members of the European Union has been to
A) abolish tariff and nontariff barriers to trade among member countries.
B) adopt identical fiscal policies for all countries belonging to the EU.
C) form a customs union agreement with members of NAFTA.
D) establish a common currency and a common monetary policy.

Question

Quizplus · Accepted Answer

The European Union (EU) has aimed to create a single market among its member countries with free movement of goods, services, capital, and people, which involves abolishing tariff and nontariff barriers to trade. While the EU does have a common currency (euro) and a common monetary policy, this was not the original objective of the EU. Adopting identical fiscal policies for all countries in the EU would be difficult due to different economic structures and needs within each country. The EU has not formed a customs union agreement with members of NAFTA, as NAFTA is a trade agreement between the United States, Canada, and Mexico, outside of the EU.

An Objective of All of the Members of the European