Identify the Statement That Is True About the Association of Southeast

question 72

Multiple Choice

Identify the statement that is true about the Association of Southeast Asian Nations (ASEAN) .

• A)It will not have fully free labor flows between member-nations.
• B)In 1993,it began to increase tariffs among countries.
• C)It will have a common currency.
• D)It has a 21-member alliance.
• E)It was established in 1989.

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Definitions:

Break-Even Point

The point at which total costs and total revenues are equal, resulting in no net loss or gain for the business.

Long Run

In economics, the long run refers to the period during which all factors of production and costs are variable, allowing for full adjustment to changes in the market or economy.

Minimum Price

A minimum price is a legally imposed threshold set above the equilibrium price, below which a certain good or service cannot be sold, often to protect producers.

Profitable Output

The level of production at which a business or economic activity yields the maximum profit.