A customs union ________.
A) is complete political and economic integration of two or more countries
B) requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, eliminate barriers to the movement of the factors of production, and coordinate economic policies
C) requires members to eliminate internal trade barriers, adopt a common external policy toward nonmembers, and eliminate barriers to the movement of the factors of production
D) involves the elimination of internal trade barriers among member countries and the adoption of common external trade policies toward nonmembers
Question 2
Which currency do exporters typically prefer to use in transactions?
A) U.S. dollars
B) Japanese yen
C) home country currency
D) host country currency
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