Describe North American Free Trade Agreement
Describe North American Free Trade Agreement (NAFTA)?
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1. This free-trade zone was established in 1993 among Canada, U.S. and Mexico with about the same combined output as EU, but a larger geographical area.
2. Free trade with Mexico was controversial because critics fear a loss of American jobs as firms can move to Mexico more easily. Also, they fear Japanese and South Korean firms will build plants there and import goods duty-free to U.S.
3. The increased trade has increased domestic employment, reduced unemployment, and increased the standard of living in all three countries.
Quantity TR TC 0 $0.00 $10.00 1 $150.00 $30.00 2 $290.00 $50.00 3 $420.00 $80.00 4 $540.00 $120.00 5 $650.00 $170.00 6 $750.00 $230.00 7 $840.00 $300.00 8 $920.00 $
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