Economic Integration

4. One of the groups that enacts the free trade economic integration
7. Takes place when tariffs between member countries are eliminated or reduced
10. Is the amount charged by a lender to a borrower for the use of their money
11. Is when a business creates the efficient production of a specific product
12. Takes place when the authority of one or more member countries is significantly reduced and a common, united government is put in place

1. The debt owed by a government
2. Occurs when different countries or regions agree to reduce or eliminate trade barriers and coordinate monetary and fiscal policies
3. Takes place when member countries are free to move factors of production within other member countries
5. Is the exchange of one currency for another or the conversion of one currency into another
6. Takes place when tariffs between member countries are predetermined and applied to other countries
8. Takes place when monetary and fiscal policies between member countries are coordinated by political integration
9. Is the rate at which the level of prices for goods and services are rising and purchasing is falling