Which of the following is true with regard to an economic union?
A)There are restrictions on immigration, emigration, or cross-border flow of capital among member countries.
B)It entails less economic integration and cooperation than a common market.
C)It involves the free flow of products and factors of production among member countries.
D)It is defined as a central political apparatus that coordinates the economic, social, and foreign policy of the member-states.
E)It does not adopt a common external trade policy.

Question

Quizplus · Accepted Answer

Like the common market, an economic union involves the free flow of products and factors of production among member countries and the adoption of a common external trade policy, but it also requires a common currency, harmonization of members' tax rates, and a common monetary and fiscal policy.

Which of the Following Is True with Regard to an Economic