If All Countries in the Bloc Are Asked to Give

question 43

Multiple Choice

If all countries in the bloc are asked to give up the greatest amount of sovereignty,they would most likely be joining a(n) ________.

• A) economic union
• B) free trade area
• C) customs union
• D) political union

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Definitions:

Irrelevant Costs

Costs that will not be affected by a decision and therefore should not be considered when making that decision.

Asset

Resources owned or controlled by a business that are expected to provide future economic benefits.

Original Cost

The initial price paid or cost of acquisition of an asset, before any depreciation, amortization, or impairment costs are deducted.

Increased Revenues

A rise in the amount of money a company earns from its business activities over a certain period.