Which of the following illustrates the costs associated with regional economic integration?
A)Americans suffer job losses when technology support work is outsourced to cheaper locations in countries such as IndiA.
B)Due to the establishment of NAFTA,Canadian workers in the textile industry lost their jobs as Canadian firms moved production to Mexico.
C)The euro is now used by 16 of the 27 member states of the European Union,with some countries opting to retain their national currencies.
D)The Andean Pact was largely based on the EU model,but was far less successful at achieving its stated goals.

Question

Quizplus · Accepted Answer

Moving to a free trade regime involves painful adjustments.For example,due to the 1994 establishment of NAFTA,some Canadian and U.S.workers in such industries as textiles,which employ low-cost,low-skilled labor,lost their jobs as Canadian and U.S.firms moved production to Mexico.

Which of the Following Illustrates the Costs Associated with Regional