The Main Difference Between a Free-Trade Area and a Customs

question 97

Multiple Choice

The main difference between a free-trade area and a customs union is that the members of a customs union ________.

• A) agree to treat trade with all nonmember nations in a similar manner
• B) agree to the free movement of all factors of production
• C) harmonize their tax, monetary, and fiscal policies and create a common currency
• D) accept a common stance on economic and political policies regarding nonmember nations

Comprehend the main goals of psychology (describe, explain, predict, and control behavior).

Recognize the importance of naturalistic observation and case studies in understanding behavior.

Describe the major perspectives in psychology and their focus areas.

Understand the process of operationalization in research.

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Definitions:

Attribution Theory

Theory that explains how you generate explanations for people’s behaviors.

Implicit Personality

A theory suggesting that people make automatic, subconscious judgments about others based on their behavior and appearances.

Standpoint Theory

Theory that a person’s social position, power, or cultural background influences how the person perceives the behavior of others.

Implicit Personality Theory

Your unique set of beliefs and hypotheses about what people are like.