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ECO 365 week 5 Knowledge Check

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3. Mexico has a comparative advantage in producing corn

• if its opportuit ost of produig or is higher tha the

opportunity cost in other countries

• if its opportuit ost of produig or is the sae as the

opportunity cost in other countries

• if its opportuit ost of produig or is loer tha opportuit

cost in other countries

• regardless of the opportuit ost i other outries

4. Workers in education, health care, and government sectors have

• see their ioes fall just like i aufaturig

• ee ostl hurt fro gloalizatio

• eefited fro gloalizatio i ters of loer osuer pries

• ee hurt eause the setor has ee shrikig

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1. What problem do economists see with free trade areas such as NAFTA and the European Union? • The ted to lead to free trade rather tha fair trade. • The a lead to regioal tradig los the restrit trade. • The lead to gloalizatio. • The eourage outries to rel o others rather tha eig selfsufficient 2. A group of countries that allows free trade among its members and puts up common barriers against all other countries' goods is Called • a tariff-free zone • a ost-favored nation agreement • a autark • a free trade assoiatio http://www.studentwhiz.com/

3. Mexico has a comparative advantage in producing corn • if its opportuit ost of produig or is higher tha the opportunity cost in other countries • if its opportuit ost of produig or is the sae as the opportunity cost in other countries • if its opportuit ost of produig or is loer tha opportuit cost in other countries • regardless of the opportuit ost i other outries 4. Workers in education, health care, and government sectors have • see their ioes fall just like i aufaturig • ee ostl hurt fro gloalizatio • eefited fro gloalizatio i ters of loer osuer pries • ee hurt eause the setor has ee shrikig http://www.studentwhiz.com/

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