In a(n) ____, members coordinate and harmonize monetary, fiscal, and taxation policies.
A) Monetary union
B) Political union
C) Economic union
D) Custom union

Question

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An economic union is a type of trade bloc that involves the integration of economic policies between member countries. This includes coordinating monetary policies (related to the supply and demand of money and credit), fiscal policies (related to government spending and taxation), and taxation policies (related to tariffs and trade barriers). Examples of economic unions include the European Union and the East African Community. Economic union involves coordination and harmonization of monetary, fiscal, and taxation policies, among other economic policies, among member states. Monetary union only entails the adoption of a single currency for member states, while political union involves harmonization of political institutions and policies. Custom union is limited to common external tariffs on goods imported from non-member countries.

In A(n) ____, Members Coordinate and Harmonize Monetary, Fiscal, and Taxation