As with free trade in general, regional economic integration creates g

QUESTION

As with free trade in general, regional economic integration creates gain for consumers, but it can be challenging for some producers.

Indicate whether the statement is true or false.

ANSWER

TRUE
By regional economic integration we mean agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other. Thus, as with free trade in general, regional economic integration creates gain for consumers, but it can be challenging for some producers.