GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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monetary and fiscal policies between member countries are coordinated by political integration
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member countries are free to move factors of production within other member countries
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tariffs between member countries are predetermined and applied to other countries
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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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Detailed explanation-1: -#4 – Economic Union It involves the coordination of monetary, fiscal, and taxation policies and government expenditure to promote the free flow of commodities.
Detailed explanation-2: -Economic integration, or regional integration, is an agreement among nations to reduce or eliminate trade barriers and agree on fiscal policies.
Detailed explanation-3: -An economic union is an agreement between two or more nations to allow goods, services, money and workers to move over borders freely. The countries may also coordinate social and financial policies to support this common market. The European Union (EU) is an example of an economic union.
Detailed explanation-4: -The integration of the country with the world economy is called globalization.