Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn

Exercise 17

Explain: "Free-trade zones such as the EU and NAFTA lead a double life. They can promote free trade among members, but pose serious trade obstacles for nonmembers." Do you think the net effects of these trade blocs are good or bad for world trade Why How do the efforts of the WTO relate to these trade blocs