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Flip Learning 16/02/2017 (Monetary Union (European Monetary Union…
Flip Learning 16/02/2017
Free Trade Areas
A free trade area (FTA) is one where there are no tariffs or taxes or quotas on goods and/or services from one country entering another.
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Monetary Union
When two or more groups (usually countries) share a common currency or decide to peg their exchange rates in order to keep the value of their currency at a certain level.
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One of the main goals of forming a currency union is to synchronize and manage each country's monetary policy
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Economic Unions
An economic union is a type of trade bloc which is composed of a common market with a customs union.
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Customs Unions
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Preferential tariff rates apply to preferential or free trade agreements that the EU has entered into with third countries or groupings of third countries