Asked by Abigail Orozco on Jun 26, 2024
Verified
The nations that make up NAFTA facilitate cross-border trade and business development by sharing a common currency.
Common Currency
A currency that is used by multiple countries, facilitating international trade and economic stability, like the Euro in the European Union.
Cross-Border Trade
The buying and selling of goods and services between businesses in neighboring countries or regions.
- Acquire knowledge on the merits and complications of regional trade agreements, for example, NAFTA.
Verified Answer
JA
Julie AdamsJun 28, 2024
Final Answer :
False
Explanation :
The nations that make up NAFTA (Canada, Mexico, and the United States) do not share a common currency. Each country has its own currency: the Canadian dollar, the Mexican peso, and the US dollar. However, NAFTA does eliminate many barriers to trade between the countries, such as tariffs and certain regulations, to facilitate cross-border commerce.
Learning Objectives
- Acquire knowledge on the merits and complications of regional trade agreements, for example, NAFTA.
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