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Question
The main difference between a free trade area and a customs union is that the members of a customs union ________.A) agree to the free movement of all factors of production
B) harmonize their tax, monetary, and fiscal policies and create a common currency
C) agree to treat trade with all nonmember nations in a similar manner
D) accept a common stance on economic and political policies regarding nonmember nations
Answer
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A) The countries have experienced an increase in life expectancy.
B) As a result of extensive commercialism, there has been a decline in personal income.
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