Which form of regional cooperation agreement,when fully implemented,entails creation of a unified central bank,the use of a single currency,and common policies on agriculture,social services,and welfare?
A)free trade area
B)customs union
C)common market
D)economic union
E)dispute settlement body

Question

Quizplus · Accepted Answer

An economic union involves the integration of member countries' economic policies, including the creation of a unified central bank, the adoption of a single currency, and the establishment of common policies on various sectors such as agriculture, social services, and welfare. This goes beyond the cooperation seen in free trade areas, customs unions, and common markets by integrating economic policies at a deeper level.

Which Form of Regional Cooperation Agreement,when Fully Implemented,entails Creation of a Unified