ECO 372 Week 5 Discussion Question 4 - 87492

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Why are trade agreements important for the various countries involved? How is international trade related to the U.S. standard of living as opposed to the standard of living of a small industrial nation or a developing nation? How does international trade affect a country’s standard of living? What impact does it have on the way Americans live life, spend, consume, and so on.? Trade agreement is defined as a pact between two or more countries in which they agree to lift most or all tariffs, quotas, special fees and taxes, and or other barriers (White, 2012) All countries involved in the...
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Why are trade agreements important for the various countries involved? How is international trade related to the

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