Answered: 1. An updated version of an existing…

1. An updated version of an existing trade agreement that includes new provisions for local content requirements for automakers and more open dairy trade. USMCA NAFTA MERCOSUR Andean Community ASEAN

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter28: International Trade

Section: Chapter Questions

Problem 15P

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Question

Select the most appropriate trade pact for each description and explain each right and wrong answers also

11. An updated version of an existing trade agreement that includes new provisions for local content requirements for automakers and more open dairy trade.

USMCA
NAFTA
MERCOSUR
Andean Community
ASEAN
EU

12. The terms of the agreement will require minimum wages for auto workers in one bloc-member country to triple.

EU
MERCOSUR
Andean Community
USMCA
NAFTA
ASEAN

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Similar questions

Trade has income distribution effects. For example, suppose that because of a government-negotiated reduction in trade barriers, trade between Germany and the Czech Republic increases. Germany sells house paint to the Czech Republic. The Czech Republic sells alarm clocks to Germany. Would you expect this pattern of trade to increase or decrease jobs and wages in the paint industry in Germany? The alarm clock industry in Germany? The paint industry in Czech Republic? The alarm clock industry in Czech Republic? What has to happen for there to be no increase in total unemployment in both countries?
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