_____ are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries
a. Exchange controls
b. Market groupings
c. Joint ventures
d. Direct foreign investments
ANSWER: b
Market groupings are trade alliances in which several countries agree to work together to form a common trade area that enhances trade opportunities among those countries. The best-known market grouping is the European Union (EU).
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