Author Question: An agreement among a group of countries to eliminate trade barriers among themselves, to present a ... (Read 132 times)

poopoo · **on:** Oct 12, 2022

Question 1

An agreement among a group of countries that allows for tariff-free trade among the members but leaves each member free to levy its own tariffs on imports from other countries is called a
◦ common market.
◦ confederation.
◦ free-trade area.
◦ customs union.
◦ reciprocity association.

Question 2

An agreement among a group of countries to eliminate trade barriers among themselves, to present a common trading front to the rest of the world in terms of common tariffs, but which does not permit free movement of factors of production among member countries, is called a
◦ free-trade area.
◦ confederation.
◦ common market.
◦ customs union.
◦ reciprocity association.

jojomac20 · **Reply #1 on:** Oct 12, 2022

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