Which of the Following Is the Lowest Extent of Regional

question 97

Multiple Choice

Which of the following is the lowest extent of regional economic integration?

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

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Definitions:

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, including all of the great powers, organized into two opposing military alliances.

Hyperinflation

An extremely high and typically accelerating inflation rate, causing a rapid erosion of currency's real value.

Deflation

A decrease in the general price level of goods and services, often indicating an economic decline.

Consumers

Individuals or groups that purchase or use goods and services generated within the economy.