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.Management Sciences
A. Elimination of border controls
B. No import taxes on goods bought in another members country
C. Each country can retain its own technical standards
D. Common security arrangements
Related Mcqs:
- A primary reason why nations conduct international trade is because ?
- A. Some nations prefer to produce one thing while others produce another B. Resources are not equally distributed to all trading nations C. Trade enhances opportunities to accumulate profits D. interest rates are not identical in all trading nations...
- Technological improvements are similar to international trade since they both ?
- A. Provide benefits for all producers and consumers B. Increase the nation’s aggregate income C. Reduce unemployment for all domestic workers D. Ensure that industries can operate at less than full capacity...
- Free trade is based on the principle of ?
- A. Comparative advantage B. Comparative scale C. Economies of advantage D. Production possibility advantage...
- A feasible effect of international trade is that a (an) ?
- A. Monopoly in the home market becomes an oligopoly in the world market B. Oligopoly in the home market becomes a monopoly in the world market C. Purely competitive firm in the home market becomes an oligopolist D. purely competitive firm in the home market becomes a monopolist...
- When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
- A. trade diversion B. trade channeling C. trade creation and trade diversion D. trade creation...
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