The _____ Has Reduced or Eliminated Internal Tariffs and Adds

question 3

Multiple Choice

The _____ has reduced or eliminated internal tariffs and adds a common external tariff on products imported from countries outside the group.

• A) political union
• B) common market
• C) regional cooperation for development (RCD)
• D) customs union
• E) free trade area (FTA)

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Definitions:

High-Income Countries

Nations with a high gross national income per capita, indicating a generally high standard of living and economic productivity.

Real Expenditures

Total spending on goods and services, adjusted for inflation, to reflect the true economic value of transactions.

Medicare

A federal health insurance program in the United States for people who are 65 or older, some younger individuals with disabilities, and people with End-Stage Renal Disease.

Medicaid

A social health care program for families and individuals with low income and resources, principally funded by the federal government and the states.