Economic integration whereby countries remove barriers to trade and the movement of labor and capital among members,set a common trade policy against nonmembers,and coordinate their economic policies is called a(n)________.
A) customs union
B) common market
C) economic union
D) free trade area

Question

Quizplus · Accepted Answer

An economic union involves the removal of barriers to trade and the movement of labor and capital among member countries, setting a common trade policy against non-members, and coordinating their economic policies, which goes beyond the level of integration seen in customs unions, common markets, and free trade areas.

Economic Integration Whereby Countries Remove Barriers to Trade and the Movement