Which of the Following Statements Is True About NAFTA

question 241

Multiple Choice

Which of the following statements is true about NAFTA?

• A) It is a free trade agreement between Canada and the United States.
• B) It was initiated by the United States.
• C) It is built on the Canadian Free Trade Agreement (FTA).
• D) It immediately eliminated tariffs among the United States,Mexico,and Canada.
• E) It was enacted in 2002 and encourages free trade.

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Definitions:

Standard Error

A statistical measure that represents the accuracy with which a sample distribution represents a population, particularly the variability in an estimated mean.

Parsimony

The principle of using the simplest or least complicated explanatory means necessary to adequately account for observed phenomena, often used in model selection.

Regression Model

A statistical technique for estimating the relationships among variables, often used for prediction and forecasting.

T-statistic

A type of statistic used in hypothesis testing, calculated from sample data to determine whether to reject the null hypothesis.