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.

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.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 34RQ: If opening up to free trade would benefit a nation, then why do nations not just eliminate their...

See similar textbooks

Similar questions

Explain what world trade means. What is the role ofthe Wto and economic communities in encouragingfree trade? What is the role of the World Bank and theInternational Monetary Fund in global trade? What isprotectionism? Explain import quotas, embargoes, andtariffs
Protectionism refers to open trade. O True O False
Protectionism uses tariffs as trade barriers. O True O False
a.Evaluate the reasons we see the prevalence of intra-industry trade between similar economies. b. Explain how tariffs can serve as a barrier to trade, and identify at least two benefits of reducing barriers to international trade. c. Define protectionism, and explain nontarriff barriers to trade. Who are the major beneficiaries and losers from protectionism in an economy engaging in protectionism.
one of your relaties suggests to you that our country should stop trading with other countries because imports take away jobs and lower our national well-being. How would you try ot convince him that this is probably not the right way to look at international trade and its effects on the country?
A customs union is different from a free-trade area, in that: the world. 1.a free-tradearea removes trade barriers between memibercountries, whereas customs union adtopts idtentical tarifts with the rest of the world. 2..a free-tradearea allows for uniform tariffs, whereas aCustamis union does not.3. customs unionremoves trade barriers between membercountries, whereas a free-tracte areaadtopts idtentical tarifts with the rest of the world e. a free-trade area allows for free movement of factors, whereas a Customs union does not. i will 5 upvotes
If trade increases world GDP by 1 per year, what is the global impact of this increase over 10 years? How does this increase compare to the annual GDP of a country like Sri Lanka? Discuss. Hint To answer this question, here are steps you may want to consider. Go to the World Development Indicators (online) published by the World Bank. Find the current level of World GDP in constant international dollars. Also, find the GDP of Sri Lanka in constant international dollars. Once you have these two numbers, compute the amount the additional increase in global incomes due to trade and compare that number to Sri Lankas GDP.
You just overheard your friend say the following: Poor countries like Malawi have no absolute advantages. They have poor soil, low investments in formal education and hence low-skill workers, no capital, and no natural resources to speak of. Because they have no advantage, they cannot benefit from trade. How would you respond?
If trade barriers hurt the average worker in an economy (due to lower wages), why does government create trade barriers?