A ____ is a regional trading bloc in Which member countries eliminate internal trade barriers but maintain existing barriers against countries that are not member ?
Correct answer: A. free trade area
- A. free trade area
- B. customs union
- C. common market
- D. monetary union
Explanation
A free-trade area removes internal trade barriers but allows each member to retain its own tariffs against nonmembers. A customs union would additionally require a common external tariff.
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