When Mexico Became a Part of NAFTA,along with Canada and the United

question 221

Multiple Choice

When Mexico became a part of NAFTA,along with Canada and the United States,it:

• A) Eliminated tariffs against Canada and the United States but maintained them against nonmembers
• B) Eliminated tariffs against Canada,the United States,and all nonmember countries
• C) Increased tariffs against Canada the United States,and all nonmember countries
• D) Increased tariffs against Canada and the United States,but did not change them against nonmember countries

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Definitions:

Developing Nations

Countries with a lower level of material well-being and economic development compared to industrialized nations.

Per-capita Incomes

The average income earned per person in a given area in a specified year, often used to gauge an area's standard of living.

Gross Domestic Product (GDP)

A measure of the economic output of a country, representing the total value of all goods and services produced over a specific time period.

Global Business Strategy

Offering a standardized, worldwide product and selling it in essentially the same manner throughout a firm’s domestic and foreign markets.