If Libya,Egypt,Algeria,and Sudan Agreed to Remove Barriers to the Movement

question 27

Multiple Choice

If Libya,Egypt,Algeria,and Sudan agreed to remove barriers to the movement of goods and services and consent to a uniform tariff policy toward nonmember countries,the result would be a(n) :

• A) Custom union
• B) Political union
• C) Economic union
• D) Common market
• E) None of the above

---

Definitions:

Price Index

A measure showing the average level of prices for a specific set of goods and services over a period, indicating inflation or deflation.

Base Year

A specific year chosen as a point of reference or comparison for financial or economic data.

Price Index

A statistical measure that shows changes in the price level of a basket of consumer goods and services over a period of time.

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.