Ch. 19 (NAFTA, CAFTA, GATT, WTO: Are Trade Agreements Good for Us?)

Ace your homework & exams now with Quizwiz!

Quote

A limit on imports.

Tariff

A tax on imports.

GATT

General Agreement on Tariffs and Trade, a world trade agreement.

NAFTA

North American Free Trade Agreement, involving the United States, Mexico, and Canada.

Strategic Trade Policies

Policies designed to get more of the benefits from trade in a country than would exist under free trade.

CAFTA

The Central America Free Trade Agreement, involving the United States and five Central American countries: Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.

WTO

The World Trade Organization, an institution that arbitrates trade disputes.

Creative Destruction

The notion that people need to lose their jobs involuntarily in order to seize better opportunities.


Related study sets

Federal tax considerations for accident and health insurance

View Set

carbon cycle, global warming and climate change

View Set

Chapter 25- Plant Evolution and Diversification

View Set

Role/Scope of Practice for Personal Trainer (Ch.1)

View Set