Which of the Following Statements Is True About NAFTA

question 57

Multiple Choice

Which of the following statements is true about NAFTA?

• A) It allows the use of standards and technical regulations as obstacles to trade.
• B) It was ratified and became effective in the year 2000.
• C) It prohibits U.S. and Canadian financial institutions to open wholly owned subsidiaries in Mexico.
• D) Its provisions require goods to contain minimum of 10% North American content to be traded duty free.
• E) Its provisions require Canada, Mexico, and the United States to implement uniform customs procedures and regulations.

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Definitions:

Real Property

Land and anything permanently attached to it, such as buildings, also including rights and interests associated with the land.

Personal Property

Movable assets or belongings, excluding real estate, owned by an individual or entity.

Common Carriers

Companies or entities that provide transportation services to the public under the authorization or regulation of a governmental body.

Liability

Legal responsibility for one's actions or inactions, which may lead to legal or financial penalties.