Whenever countries set up a Free Trade Area they abolish all restrictions

Whenever countries set up a Free Trade Area they abolish all restrictions on trade among themselves and
(a) They establish a common external tariffs on imports from outside countries
(b) They abolish all restrictions on imports from outside countries
(c) They abolish all restrictions on imports from other Free Trade Areas
(d) Each country maintains its own set of tariffs and quotes on imports from outside countries

Anurag Mishra Professor Asked on 12th January 2016 in Economics.
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    Answer: (d) Each country maintains its own set of tariffs and quotes on imports from outside countries 

    Anurag Mishra Professor Answered on 13th January 2016.
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