Multilateral agreements flashcards

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What is a trade bloc a group of nations that allows free trade among member nations but restrict imports from nonmember nations via tariffs and quotas.
The primary economic advantage of the European Union (EU) to its members is that the reduction of trade barriers permits producers to achieve mass-production economies
What is the main problem posed by trade blocs for nonmember nations nonmembers face tariffs that member nations do not
Which countries make up NAFTA Canada, Mexico, and the United States.
what is the purpose of NAFTA NAFTA established a free trade zone encompassing Canada, Mexico, and the United States.
A number of European nations have agreed to use the___________ as a common currency euro
Which countries were admitted to the European Union in 2004 Poland, Hungary, and the Czech Republic
What did the Uruguay Round of GATT negotiations completed in late 1993 create It created international protections for intellectual property such as patents, copyrights, and trademarks
An important outcome of the Uruguay Round of GATT negotiations was a worldwide reduction of agricultural export subsidies
The World Trade Organization (WTO) is the successor to _____ GATT
Proponents of the WTO argue that free international trade and investment will increase living standards of all trading nations.
American critics of the WTO argue that free international trade and investment will undermine environmental and labor protections in the United States.

What is a trade bloc

The primary economic advantage of the European Union (EU) to its members is that

What is the main problem posed by trade blocs for nonmember nations

Which countries make up NAFTA

what is the purpose of NAFTA

A number of European nations have agreed to use the___________ as a common currency

Which countries were admitted to the European Union in 2004

What did the Uruguay Round of GATT negotiations completed in late 1993 create

An important outcome of the Uruguay Round of GATT negotiations was

The World Trade Organization (WTO) is the successor to _____

Proponents of the WTO argue that free international trade and investment will

American critics of the WTO argue that free international trade and investment will

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