Which of the Following Statements Is Correct

question 2

Multiple Choice

Which of the following statements is correct?

• A)In a customs union,member nations apply a uniform external tariff
• B)in a free-trade area,member nations harmonize their monetary and fiscal policies
• C)within a customs union there is unrestricted factor movement
• D)a customs union is a higher form of economic integration than a common market

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Definitions:

Product Structures

The organization and hierarchy of components within a product, specifying how different parts are interconnected or assembled.

Market Structures

The organizational and other characteristics of a market that significantly affect the degree of competition and pricing within the market.

Cross-Functional Teams

Groups comprised of members from different departments or areas of expertise working together towards a common goal.

Divisional Focus

A strategic organizational approach that emphasizes the autonomy and specialization of divisions within a larger corporation.