In the context of regional economic integration which of the following...

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In the context of regional economic integration, which of the following equations is not correct?

A. Customs union = Free trade area + Common external tariff

B. Economic integration = Common market + Fixed exchange rate + Macro economic coordination

C. Common market = Customs union + NTBs + Factor mobility

D. Free trade area = Customs union - Common external tariff

Answer: Option C

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