Quiz 15: Managing Human Resources Globally

Business

True Explanation: The North American Free Trade Agreement (NAFTA)is an agreement among Canada, the United States, and Mexico that has created a free market even larger than the European Economic Community. The United States and Canada already had a free trade agreement since 1989, but NAFTA brought Mexico into the consortium.

True Explanation: The General Agreement on Tariffs and Trade (GATT)is an international framework of rules and principles for reducing trade barriers across countries around the world. It currently consists of more than 100 member-nations.

False Explanation: The GATT established the World Trade Organization (WTO)to resolve disputes among its members countries spread across the globe. The North American Free Trade Agreement (NAFTA)is an agreement on free trade among Canada, the United States, and Mexico.