TAILIEUCHUNG - Lecture Issues in economics today - Chapter 16: NAFTA, GATT, WTO: Are trade agreements good for us?

The main contents of this chapter include all of the following: The benefits of free trade, why do we need trade agreements, trade agreements and institutions, economic and political impacts of trade, the bottom line. | Chapter 16 NAFTA, GATT, WTO: Are Trade Agreements Good For Us? Chapter Outline THE BENEFITS OF FREE TRADE WHY DO WE NEED TRADE AGREEMENTS TRADE AGREEMENTS AND INSTITUTIONS ECONOMIC AND POLITICAL IMPACTS OF TRADE THE BOTTOM LINE NAFTA, GATT, and the WTO NAFTA: North American Free Trade Agreement An agreement between the United States, Canada and Mexico to have substantially free trade. (Some tariffs and quotas are permissible under certain circumstances.) GATT: General Agreement on Tariffs and Trade A multi-nation agreement specifying conditions under which tariffs, quotas and non-tariff barriers are permissible. WTO: World Trade Organization An organization designed to settle trade disputes. The Benefits of Free Trade Free trade makes each trading partner better off than it would have been without trade. Countries export goods to other nations because the producing country can make the good at a lower opportunity cost than the importing country. A Simple Example Number of workers .

• Quản lý Nhà nước
• Issues in economics today
• Lecture Issues in economics today
• Macroeconomic issues
• International issues
• Price control issues
• Trade agreements
• Economics of crime
• Economics of children
• Opportunity cost
• Prescription drugs
• Demand model
• Elasticity of demand
• Firm production
• Perfect competition
• Gross domestic product
• Federal spending
• Fiscal policy
• Monetary policy
• Flaws in the CPI
• International trade
• International monetary fund
• Economic model
• Environmental problems
• Economic models of health care
• Medicaid costs
• Public insurance
• Human capital
• Measuring poverty
• Social security
• Head start