A significant advantage to being a member of a trade bloc is
A) higher tariff collections from member countries.
B) reduced or eliminated tariffs among member countries.
C) reduced tariff rates only for the largest member countries.
D) None of the above; there is no economic advantage to a trade bloc.

Question

Quizplus · Accepted Answer

One of the significant advantages of being a member of a trade bloc is reduced or eliminated tariffs among member countries. This makes trade between member countries easier and cheaper, leading to increased economic activity and growth.

A Significant Advantage to Being a Member of a Trade