Which one of the following is not correct?
A. Free Trade Area among a group of countries means that they eliminate import tariffs against one another but maintain their original tariff levels against the rest of the world
B. Customs Union among a group of countries means that they eliminate import tariffs against one another, coordinate their macro policies and impose a common tariff wall against the rest of the world
C. In a common market the member countries eliminate import tariffs against the rest of the world
D. In an Economic Union, the member countries eliminate import tariffs against one another, allow free mobility to factors between them, coordinate their macro-policies and maintain a common tariff wall against the rest of the world
Answer: Option B
This Question Belongs to Commerce >> Business Environment And International Business
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