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11. Which trade agreement governs HnnH-Glucosian transactions? Explain your answer a. NAFTA b. TTIP c. TPP d. GATT e. none of the above
_ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 12. The majority of the people of Glucosia have a rare genetic foot allergy that is exacerbated when the soles of their feet come in contact with morphopyropheous zignalus an ingredient in HnnH’s shoe soles. May the Glucosian government restrict the import of the shoes to protect its citizens’ feet ? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ Yes. If a product poses a health threat to its citizens, a government may deny the importation of that product into the country. Glucosia is not a party to NAFTA. TTIP and TTP are currently proposed RTAs. In any event, even if TTIP becomes active , Glucosia was not indicated to be a member of the EU. GATT was replaced in 1995 by the WTO multilateral trade agreement. PRODUCT PREVIEW True or False. Explain your answer. 13. _________ A trade bloc is a kind of barrier to free trade. A trade bloc is when members of RTAs or nations join together to negotiate trade agreements. False False Both proposed agreements have been criticized for just the opposite: many people claim they have been negotiated in secret and give too much power to big corporate interests. _ ______________________________________________________________________________ _ ______________________________________________________________________________ 14. _________ The TTP and TTIP have both been criticized for being too publically negotiated, and for providing government with too much power and oversight of commerce and trade. _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 15. _________ ASEAN is an RTA consisting of ten Southeast Asian Nations, cooperating to accelerate economic growth; social progress, and cultural development. True
325 THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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