Which of the following levels of economic integration involves the use of a common currency, harmonization of members' tax rates, and a common monetary and fiscal policy?
A)Free trade area
B)Customs union
C)Common market
D)Economic union
E)Command economy

Question

Quizplus · Accepted Answer

Like the common market, an economic union involves the free flow of products and factors of production between member countries and the adoption of a common external trade policy, but it also requires a common currency, harmonization of members' tax rates, and a common monetary and fiscal policy.

Which of the Following Levels of Economic Integration Involves the Use