Which of the Following Statements Is True of NAFTA

question 38

Multiple Choice

Which of the following statements is true of NAFTA?

• A) It introduced a common currency for trade between the U.S., Mexico and Canada.
• B) It overrode the local content requirements and rules of origin for products manufactured in the member nations.
• C) It eliminated all tariffs and nontariff trade barriers on goods originating from within North America.
• D) It called for stringent rules regarding government procurement practices and the imposition of countervailing duties.

---

Definitions:

Standard Costs

Predetermined costs for manufacturing or acquiring products, used as a benchmark to compare with actual production costs for budgeting and performance evaluation.

Actual Costs

Refers to the genuine expenses incurred in the production, acquisition, or delivery of products and services.

Nonfinancial Measure

A metric that assesses a business's performance using qualitative indicators such as customer satisfaction or employee turnover, not directly related to monetary values.

Customer Complaints

Feedback from customers expressing dissatisfaction with a product or service, which businesses use to improve operations.