A(n) requires member nations to harmonize their tax, monetary, and fiscal policies and create a common currency. common market(n) requires member nations to harmonize their tax, monetary, and fiscal policies and create a common currency.

Economic union

Explanation:

Economic union -

It is the form of a trade bloc that is made up of the common market along with the customs union , is known as the economic union .

the countries participating in this , have some common policies and rules for the freedom of movement , factors of production , goods and services .

hence , from the question , the correct term for the given statement is economic union .