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Question
Which of the following is true of the theoretically ideal free trade area?
A. Factors of production are allowed to move freely between member nations.
B. Member countries are not allowed to determine their own trade policies with regard to nonmembers.
C. No discriminatory tariffs, quotas, subsidies, or administrative impediments are allowed to distort trade between members.
D. Member nations are required to have a common currency.
E. Member nations are required to have a common monetary and fiscal policy.
Answer
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