Which of the following entails a closer economic integration and cooperation than a common market?
A)Command economy
B)Customs union
C)Efficient market
D)Free trade area
E)Economic union

Question

Quizplus · Accepted Answer

An economic union entails even closer economic integration and cooperation than a common market. Like the common market, an economic union involves the free flow of products and factors of production among 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 Entails a Closer Economic Integration and Cooperation