Economics 9708 · AS & A Level · Income elasticity of demand

Income elasticity of demand — practice question

A group of countries chooses to move from a customs union to an economic union. What extra feature would this provide for the group?

  • Aa common external quota on imports from non-members
  • Ba common external tariff on imports from non-members
  • Cthe removal of restrictions on the movement of capital and labour between members
  • Dthe removal of tariffs and quotas on products exchanged between members

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