Which of the Following Groups of Countries Are Members of NAFTA

question 33

Multiple Choice

Which of the following groups of countries are members of NAFTA?

• A)Japan,Canada,and Mexico
• B)The U.S. ,Japan,and Mexico
• C)The U.S. ,France,and Germany
• D)The U.S. ,Canada,and Mexico

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Definitions:

Common Resources

Resources that are non-excludable but rivalrous, meaning they are available to everyone, but one person's use diminishes another's ability to use it.

Nonrival in Consumption

A characteristic of some goods where one person's consumption does not reduce the availability of the good for consumption by others.

Nonexcludable

A characteristic of a good or service where it is not possible to prevent people who have not paid for it from having access to it.

Negative Externality

A cost that is suffered by a third party as a result of an economic transaction.