Which of the following is a feature of a customs union?
A) The agreement only affects trade among members.
B) The agreement only affects trade with nonmembers.
C) The agreement establishes free trade among its members and a common trade policy with nonmembers.
D) The agreement provides mere guidelines and does not obligate members to any given policy.
E) The agreement prohibits all tariffs.
Correct Answer:
Verified
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