A Group of Countries Who Have Common External Tariffs and Free

question 73

Multiple Choice

A group of countries who have common external tariffs and free movement of labour and capital is called a:

• A) Common Market
• B) Free Trade Area
• C) Customs Union
• D) Preferential Trading Arrangement

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Definitions:

U.S. Dollar

The official currency of the United States, widely used as a standard of value and medium of exchange in international trade.

Euro

The official currency used by 19 of the 27 European Union countries, also known as the eurozone.

Current Ratio

A liquidity ratio that measures a company's ability to pay short-term obligations using its current assets.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within a year's time, including cash, inventory, and receivables.