When Members of a Free Trade Area Add Common External

question 79

Multiple Choice

When members of a free trade area add common external tariffs to the provisions of the free trade agreement, the free trade area becomes a:

• A)cartel.
• B)common market.
• C)monetary union.
• D)political union.
• E)customs union.

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Definitions:

Cognitive Development

The process involving the development of thinking and reasoning skills, including perception, memory, conception, judgment, and imagination, from infancy through adulthood.

Early Childhood

A period in human growth and development that spans from birth to eight years old.

Preoperational Intelligence

A stage in Piaget’s theory of cognitive development, typically from ages 2 to 7, where children begin to engage in symbolic play and learn to manipulate symbols but do not yet understand concrete logic.

Logical Operations

Mental processes involved in reasoning and understanding logical relationships among concepts or practices.