Explain the criticisms of labor and environmental clauses and how these are being addressed in the TPP

What will be an ideal response?

Some think that trade agreements should not be about labor and the environment, and so these clauses do not belong in trade agreements. They think that including these clauses gives support to protectionists who will inevitably oppose increased trade flows by making arguments, whether based on fact or not, that the trade partner does not enforce its laws adequately. Others argue that the clauses are meaningless because there is no real enforcement mechanism. In the proposed TPP, basic labor standards are incorporated into the agreement and countries must recognize and enforce environmental standards that have multilateral support. In addition, for the first time, trade sanctions would be allowed as a way to enforce standards.

Economics

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Individuals, firms, and government agencies deplete clean water and clean air because

A. they are excludable resources. B. the cost of doing so has no impact on the environment. C. they are nondepletable. D. there is little to no charge in accessing these resources.

Economics

If Kobe, an NBA star athlete, earns $10 million per year but has no money in the bank, he has a

A. high income and high wealth. B. low income and high wealth. C. high income and low wealth. D. low income and low wealth.

Economics