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Part 2: Research and describe in your own words the costs and benefits of Trade Blocs/Free Trade Agreements (in general, not specific agreements). Use the

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Part 2: Research and describe in your own words the costs and benefits of Trade Blocs/Free Trade Agreements (in general, not specific agreements). Use the links below, or any of the general Econ resources. The Benefits of Free Trade: A Guide For Policymakers The Benefits of Free Trade: Addressing Key Myths Global Trade & Economic Justice Costs (-) Benefits (+)Part 3: Answer the debriefing questions in the table below. 1. Explain how geography and culture might influence the creation of Free Trade Agreements 2. How do Free Trade Agreements affect net exports (exports minus imports) and the GDP of trade bloc member nations? What about other countries not included in the trade agreement? 3. Explain how trade between Mexico and the United States will result in a trade deficit for one and a trade surplus for the other. 4. Explain the effect of Free Trade Agreements on domestic producers and consumers

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