Country M wants member nations to harmonize their tax,monetary,and fiscal policies and wants to create a common currency.Country M is requesting for the creation of a(n)________ in the Moonland nations.
A) free trade area
B) economic union
C) customs union
D) common market

Question

Quizplus · Accepted Answer

An economic union involves the harmonization of tax, monetary, and fiscal policies along with the creation of a common currency. This would be the most appropriate choice for Country M's goals. Free trade areas and common markets may involve some level of economic integration, but they do not necessarily require the harmonization of policies or the creation of a common currency. A customs union involves the elimination of trade barriers among member nations and the establishment of a common external tariff, but it does not involve the harmonization of policies or the creation of a common currency.

Country M Wants Member Nations to Harmonize Their Tax,monetary,and Fiscal