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.

Question

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.

Bot GPT 3.5 · Answer

Mexican businesses have relocated to the United States where labor costs are lower.

Explain Bot · Answer

To determine which statement below is not an economic impact of the North American Free Trade Agreement (NAFTA), we need to evaluate each statement individually: 1) "Elimination of tariffs between member nations reduces the cost of goods." This statement is true and is indeed an economic impact of NAFTA. The elimination of tariffs helps reduce trade barriers, lower production costs, and ultimately lead to lower consumer prices. 2) "The largest market for Canada's agricultural exports is the United States." This statement is also true and is an economic impact of NAFTA. The agreement has facilitated increased trade between Canada and the United States, making the US the biggest market for Canada's agricultural exports. 3) "Economic collaboration through intercontinental trade has created a bloc among North American countries." This statement is true and is an economic impact of NAFTA. The agreement has fostered economic collaboration and deeper integration among the participating North American countries. 4) "Mexican businesses have relocated to the United States where labor costs are lower." This statement is not an economic impact of NAFTA. While it is true that labor costs in the United States may be lower than in Mexico, the relocation of Mexican businesses to the US is not directly a result of NAFTA. Factors such as market access, proximity to customers, and other business considerations also play a role in business decisions like relocation. Therefore, the statement that is not an economic impact of NAFTA is "Mexican businesses have relocated to the United States where labor costs are lower."