USA HISTORY

Detailed explanation-1: -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-2: -The EU is the world’s largest trading bloc. The EU is the world’s largest trader of manufactured goods and services.

Detailed explanation-3: -It refers to an agreement between countries that allows products, services, and workers to cross borders freely. The union is aimed at eliminating internal trade barriers between the member countries, with the goal of economically benefitting all the member countries.

Detailed explanation-4: -Unionized workers earn 10.2% more than their non-union peers, while also raising wages and benefits for all workers in their industry. Unions can play a critical role in narrowing racial and gender economic disparities. Unionization increases wages by 17.3% for Black workers and 23.1% for Latino workers.