A Customs Union That Allows for the Free Movement of Labor

question 7

Multiple Choice

A customs union that allows for the free movement of labor and capital among its member nations is called a:

• A)preferential trade arrangement
• B)free-trade area
• C)common market
• D)all of the above

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Definitions:

Establish Monopolies

The process or outcome of a single company gaining exclusive control over a commodity or service, often viewed negatively due to the potential for abuse of power.

Sweatshops

Workplaces, often in the manufacturing sector, that have poor working conditions, unfair wages, unreasonable hours, and may involve child labor.

Dodd-Frank Act

Formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, a comprehensive piece of financial reform legislation passed in 2010, aimed at reducing risks in the U.S. financial system.