Which of the Following Statements Is Correct

question 2

Multiple Choice

Which of the following statements is correct?

• A)In a customs union,member nations apply a uniform external tariff
• B)in a free-trade area,member nations harmonize their monetary and fiscal policies
• C)within a customs union there is unrestricted factor movement
• D)a customs union is a higher form of economic integration than a common market

---

Definitions:

Critical

Pertains to expressing or involving an analysis of the merits and faults of a concept, piece of work, or idea.

Wisdom

encompasses the quality of having experience, knowledge, and good judgment, enabling profound insights and effective problem-solving.

Knowing

The state or condition of having information, understanding, or familiarity acquired through experience or education.

Buying Power

Buying power refers to the ability of individuals or entities to purchase goods and services, often influenced by income, credit availability, and economic conditions.