All of the Following Statements Are True Regarding NAFTA EXCEPT

question 54

Multiple Choice

All of the following statements are true regarding NAFTA EXCEPT:

• A) NAFTA prohibits the use of standards and technical regulations used as obstacles to trade.
• B) NAFTA was ratified and became effective in 1994.
• C) NAFTA provisions require the United States or Canada to lower existing health, environmental, and safety regulations.
• D) The three members of NAFTA are Canada, Mexico, and the United States.
• E) Under NAFTA, Canada, Mexico, and the United States have agreed to implement uniform customs procedures and regulations.

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Definitions:

Profit Center

A separate business unit or department within an organization that is responsible for generating its own revenue and profits.

Direct Expenses

Expenses that can be directly attributed to the production of specific goods or services, such as raw materials and labor costs.

Sole Benefit

A principle ensuring actions or decisions, especially in fiduciary contexts, are made with the exclusive advantage of the beneficiary in mind.

Department

A department refers to a distinct area, division, or branch of an organization with specific responsibilities and functions.