Home » MCQs » Commerce MCQs » WTO MCQs

What is European Union?

3. What is European Union?

1. A pact eliminating most trade barriers between the U.S., Canada, and Mexico
2. Political and economic union
3. Regional intergovernmental organization
4. A legal agreement between many countries

Answer: B) Political and economic union

Explanation:

The European Union (EU) is a gathering of 27 nations that works as a durable financial and political square. Nineteen of the nation’s utilize the euro as their authority cash. The EU's total national output (GDP) added up to $15.6 trillion (ostensible) in 2019, which was $5.8 trillion not exactly the United States' $21.4 trillion GDP, as per figures accessible from the World Bank.