A customs union is
A) the union of countries that have a common trade policy of protectionist measures against other countries.
B) a group of countries that trade freely with each other but have their own individual trade policies with non- member countries.
C) a group of countries that trade freely with each other and have a common policy towards trade restrictions with non- member countries.
D) a group of countries that trade freely with one another, have a common policy concerning trade with non- member countries and a common tax and trade regulation system.
Correct Answer:
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Q2: Which of the following is unlikely to
Q3: Which of the following is unlikely to
Q4: A customs union is more likely to
Q5: What is trade diversion?
A) Where trade is
Q6: Which of the following defines a situation
Q7: Assume that the most efficient producer of
Q8: Assume that, before it joined the EU,
Q9: Which is the largest zone of preferential
Q10: The purpose of the North American Free
Q11: Which of the following is the least
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