Regional Trade Agreement
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Economists often study and evaluate economic policies by country or region. As an economist, evaluate different regional trading arrangements. Select one regional trading arrangement and describe three economic effects of the arrangement. Please provide references to support your efforts.
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Solution Summary
This solution explains regional trade agreements. The expert selects one regional trading arrangement and describes three economic effects of the arrangement. The two steps are provided. Three references to support the efforts are also included.
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Step 1
One regional trading agreement selected is NAFTA or The North Atlantic Free Trade Agreement. This is a treaty entered into by the United States, Canada, and Mexico. This treaty made the three countries the largest free trade market in the world. In 1994 when the treaty went into effect the total economies of the three countries added up to $6 trillion and impacted more than 365 million people. The treaty was designed to remove trade barriers among manufacturing, ...
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