GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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different countries or regions agree to reduce or eliminate trade barriers and coordinate monetary and fiscal policies
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investors look to support stable countries with strong economic performance
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export prices versus import prices
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debt owed by a government
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when a country is spending more on foreign trade than it is earning
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Detailed explanation-1: -Economic integration, or regional integration, is an agreement among nations to reduce or eliminate trade barriers and agree on fiscal policies. The European Union, for example, represents a complete economic integration. Strict nationalists may oppose economic integration due to concerns over a loss of sovereignty.
Detailed explanation-2: -Trade barriers and any restrictions on the movement of labor and capital between member countries are removed. There is a common trade policy for trade with nonmember nations, and workers no longer need a visa or work permit to work in another member country of a common market.
Detailed explanation-3: -What is Economic Integration? Economic integration involves agreements between countries that usually include the elimination of trade barriers and aligning monetary and fiscal policies, leading to a more inter-connected global economy.
Detailed explanation-4: -Regional economic integration is a process in which two or more countries agree to eliminate economic barriers, with the end goal of enhancing productivity and achieving greater economic interdependence.
Detailed explanation-5: -Free trade. Custom union. Common market. Economic union (single market). Political union.