A Customs Union Is an Organization of Nations Whose Members

question 3

Multiple Choice

A customs union is an organization of nations whose members:

• A)have impenetrable trade barriers among themselves but impose no trade barriers on nonmembers.
• B)have no trade barriers among themselves but impose common trade barriers on nonmembers.
• C)have no trade barriers among themselves but each member country chooses its own trade policies toward nonmember countries.
• D)retaliate each other by raising reciprocal tariffs.
• E)neither have trade barriers among themselves nor impose any restriction on the nonmember countries.

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Definitions:

Self-Employed

Individuals who work for themselves, either as freelancers, entrepreneurs, or business owners, rather than for an employer.

Minimal Challenges

Minimal challenges refer to the smallest or least complex obstacles that might be faced in a situation or process.

Unchanging Job

A position or role in employment that remains constant over time without significant variation in duties or responsibilities.

Limited Hours

Restricted or specific time frames during which business operations or services are available.