A Trading Arrangement That Commits Participating Nations to Remove All

Multiple Choice

A trading arrangement that commits participating nations to remove all barriers to trade among their group, to abide by common restrictions on trade with other countries outside the group, to allow unhindered movements of factors of production within the group, and to closely coordinate all economic policies with other participants is known as:

A) a customs union.
B) a common market.
C) a free trade area.
D) an economic union.