IftheUnitedStatesandCanadaabolishalltariffsoneachother'sgoodsandimplementacommontariffongoodsimportedfromother countries,thereoccursa(an):
A. Free-trade area
B. Customs union
Common market
D. Economic union
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Suppose that the United Kingdom and Italy abolish all traiffs on each other's goods and all restrictions on movements of factors of prodoction between them. They also implement a common protectionist policy toward other countries. This is an example of a (an):
A. Free-trade area
B. Customs union
Common market
D. Economic union
The North American Free Trade Agreement was excepted to benefit____themost.
A. Canada
B. Mexcio
C. Greenland
D. United States
The North American Free-Trade Agreement was most strongly opposed by U.S.:
A. Electronics manufacturers
B. Labor unions
Commercial banks
D. Engineering companies
In the United States, which group was most likely to be hurt by the North American Free Trade Agreement?
A. Unskilled labor
B. Skilled labor
C. Owners of capital equipment
D. Owners of financial capital