True or False. The second largest common market agreement in the Americas, calls for a common market that would eventually allow for the free movement of goods, capital, labor, and services among the member countries, with a uniform external tariff, with no central institutions.

True.

Explanation:

Mercosur a Spanish word is a South American trade bloc established by the Treaty of Asunción in 1991 and Protocol of Ouro Preto in 1994.

It is the second largest common market agreement in the Americas, after the North American Free Trade Agreement (NAFTA).

It calls for a common market that would eventually allow for the free movement of goods, capital, labor, and services among the member countries, with a uniform external tariff, with no central institutions.

Mercosur has become the most influential and successful free trade area in South America.

The member countries are Argentina, Bolivia, Brazil, Chile, Paraguay and Uruguay.

answer; by looking at total product,marginal product,and changes in both after changes in inputs