Podcast
Questions and Answers
What is economic integration?
What is economic integration?
- The establishment of a single global currency for all countries
- The process of reducing unemployment within a country
- The implementation of strict immigration policies to protect domestic labor market
- The elimination of trade barriers and coordination of economic policies among countries (correct)
Which of the following is a common objective of economic integration?
Which of the following is a common objective of economic integration?
- Isolating domestic markets from international competition
- Imposing strict regulations on foreign investment
- Increasing trade barriers and tariffs
- Enhancing economic efficiency and competitiveness (correct)
What is a potential benefit of economic integration?
What is a potential benefit of economic integration?
- Rising trade barriers and protectionism
- Decreased cooperation among member countries
- Stagnation of technological advancements
- Increased foreign direct investment (FDI) (correct)
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