The main difference between a free trade area (FTA) and a customs union is that in a customs union, there is:
a. a common external tariff.
b. no need for passport controls.
c. a shared border patrol.
Answer: a. a common external tariff.
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Which of the following statements about the market segmentation approach is correct?
A) This approach would imply the production of standardized products. B) With this approach, less money is wasted on customers who have low probability of buying the product. C) It is the act of choosing which segment or segments to pursue actively. D) With this approach, none of the segments would necessarily be satisfied because the typical consumer in each would not feel that the product was right for him or her.
Because the ________ Act (enacted in 1890 ) was aimed at monopolies that called themselves trusts, it was called a(n) ________ statute
A) Clayton; antitrust B) Clayton; fiduciary C) Sherman; antitrust D) Sherman; fiduciary