Which statement below is not an economic impact of the North American Free Trade Agreement?
(1 point)
Responses
Elimination of tariffs between member nations reduces the cost of goods.
Elimination of tariffs between member nations reduces the cost of goods.
The largest market for Canada's agricultural exports is the United States.
The largest market for Canada's agricultural exports is the United States.
Economic collaboration through intercontinental trade has created a bloc among North American countries.
Economic collaboration through intercontinental trade has created a bloc among North American countries.
Mexican businesses have relocated to the United States where labor costs are lower.
Mexican businesses have relocated to the United States where labor costs are lower.
The statement "Economic collaboration through intercontinental trade has created a bloc among North American countries" is not an economic impact of the North American Free Trade Agreement.
The statement "The largest market for Canada's agricultural exports is the United States" is not an economic impact of the North American Free Trade Agreement.
To identify which statement is not an economic impact of the North American Free Trade Agreement (NAFTA), we need to evaluate each statement and eliminate the ones that do represent an impact.
Statement 1: "Elimination of tariffs between member nations reduces the cost of goods."
This is an economic impact of NAFTA. By eliminating tariffs, the cost of goods between member nations is reduced, which promotes trade and economic growth.
Statement 2: "The largest market for Canada's agricultural exports is the United States."
This is also an economic impact of NAFTA. With the elimination of trade barriers, Canada is able to export a significant amount of agricultural products to the United States, which boosts their economy.
Statement 3: "Economic collaboration through intercontinental trade has created a bloc among North American countries."
This is an economic impact of NAFTA. The intercontinental trade and collaboration among North American countries, facilitated by NAFTA, has led to the creation of an economic bloc, allowing for increased economic integration and cooperation.
Statement 4: "Mexican businesses have relocated to the United States where labor costs are lower."
This is an economic impact of NAFTA. The removal of trade barriers and lower labor costs in the United States have incentivized Mexican businesses to relocate there, leading to a shift in employment and economic activity.
Based on the analysis, all of the statements represent economic impacts of NAFTA. Therefore, there is no statement that is not an economic impact of NAFTA.