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- What does it mean by the North American Free Trade Area?GATT: A. resulted in higher tariffs worldwide B. was designed by the WTO C. is part of the World Bank D. was the precursor of the WTO E. resulted in high oil pricesHow International economic Problems can be solved by international organizations?
- Which of the following statements is(are) FALSE?I. Trade creation is always bad for countriesII. Trade diversion is always good for countriesIII. Regional trade agreements never cause welfare losses A. I, II, and III B. II C.III D. IWhy does the government create trade barriers if they can potentially hurt a worker in an economy (due to lower wages)? a. What can be done to avoid trade barriers? b. As a consumer, what are your experiences with trade barriers? c. What alternatives do you recommend to replace trade barriers? Why do you think labor standards and working conditions are lower in developing nations of the world rather than in other countries? Should a country impose higher safety standards on imported goods that exist in the foreign country where the goods were produced? Explain.Which is a benefit of the Central American Free Trade Zone agreement? It allows all participants to create a region-wide health care system. It links regional power supplies between nations. O It minimizes border conflicts between countries. It creates a unified block to slow down outsourcing from the United States.
- The European Union and the Eurasian Economic UnionWhat is a free trade zone?Trade protectionism a barrier to the recovery of global economies, warns ICS Feb 24, 2021 by Gavin van Marle Increasing trade barriers by governments around the world are hampering the global economy as it attempts to recover from the pandemic’s economic fallout, warned the International Chamber of Shipping today. According to the International Trade Centre, the COVID-19 pandemic has led governments to throw up “temporary trade measures that aim to restrict exports of vital medical supplies, and to liberalize imports of vital medical supplies as well as other essential products”. As of last week, some 98 countries have temporary export restrictions or outright bans in place. In contrast, 102 countries have liberalized their import restrictions. However, it is not just about COVID-19, according to a new ICS Protectionism in Maritime Economics report. It says: “Decades of progress toward open markets has begun to reverse in recent years, with damaging restrictions imposed as weapons…