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Economics Mcqs
Q
Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?
AA. Relatively high; relatively large
BB. Relatively high; relatively small
CC. Relatively low ; relatively large
DD. Relatively low ; relatively small
Correct Answer:
A. A. Relatively high; relatively large
