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Basic Question 3 of 6
When lower-cost imports from non-member countries are replaced with higher-cost imports from members, ______ occurs.
B. a trade deficit
C. trade diversion
A. trade creation
B. a trade deficit
C. trade diversion
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Learning Outcome Statements
explain motivations for and advantages of trading blocs, commonmarkets, and economic unions
CFA® 2025 Level I Curriculum, Volume 1, Module 6.