Ch 5 Global Trade [AP & Reg]

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Unformatted text preview: ctions/increases) for members, and (increasing/decreasing) import quotas. 10. The Reciprocal Trade Agreements Act of 1934 brought about considerable (increases/reductions) in American trade barriers. 11. The European Union (abolished/increased) tariffs among one another and established a system of common tariffs with non­member nations. 12. NAFTA included the U.S., Mexico, and (Japan/Canada/Djibouti). 13. Proponents of NAFTA contend it will (incr/decr) the flow of illegal immigrants (incr/decr) U.S. exports by raising productivity & income in Mexico, and enable the U.S. to obtain (more/less) total output from its scarce resources. [“S&D” determine currency strengths] [“S&D” determine currency strengths] [What if the U.S. wants more Mazdas from Japan?] Unite d S tate s Japan [“S&D” determine currency strengths] [“S&D” determine currency strengths] [What if the Europeans want more American cars?] Unite d S tate s Euro pe Appreciation/Depreciation History A...
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