Which of the following is NOT a feature of a common market?
A) Substantial coordination of macroeconomic policies among the members
B) Free trade in goods and services between the members
C) Common external barriers to trade
D) Factor mobility
A
Economics
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When the United States exports a good, U.S. consumer surplus ________ and U.S. total surplus ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Economics
The domestic market failure argument is a particular case of the theory of
A) the optimum, or first-best. B) the second best. C) the third best. D) the sufficing principle. E) the efficiency case for free trade.
Economics