If Two Countries Remove All Tariff and Nontariff Barriers to Trade

question 7

Multiple Choice

If two countries remove all tariff and nontariff barriers to trade between them, adopt a common external tariff on imports from the outside world, and permit free factor movements between themselves, but take no further steps toward economic integration, this economic coalition that has been formed is a

• A) free-trade area.
• B) common market..
• C) economic union.
• D) customs union.

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Definitions:

Required Emotions

Emotions that individuals are expected to display in certain situations or roles, often dictated by social or professional norms.

True Emotions

Authentic feelings that reflect an individual's genuine emotional state, without pretense or suppression.

Emotional Intelligence

The ability to recognize, understand, manage, and reason with emotions in oneself and others, which is critical for effective communication, leadership, and relationships.

Emotional Labor

The process of managing feelings and expressions as per organizational requirement, often seen in service jobs requiring a specific emotional display.