OPEC/ NAFTA (17E)

What does NAFTA stand for?

• North Atlantic Free Trade Agreement

• North American Free Trade Agreement

• North American Fundamental Trading Agreement

• North Atlantic Fundamental Trading Agreement

After reading about the following impact of NAFTA, decide if it is more positive or negative.

It could be a cause for excessive pollution.

There had been several reports of excessive pollution in the past. One of the things that can lead to this problem is the fact that delivery trucks and factories will be more common due to reduced trade barriers.

• Positive

• Negative

After reading about the following impact of NAFTA, decide if it is more positive or negative.

It allowed for the establishment of trade standards.

One of the things that three countries agreed to improve was the health, safety and industrial standards to the highest existing standard. National standards no longer apply as a barrier to free trade. Additionally, agreements were made to ensure that industrialization will not increase pollution, as well as have provisions to manage labor and environmental issues.

• Positive

• Negative

After reading about the following impact of NAFTA, decide if it is more positive or negative.

It could be the reason for people to lose jobs.

Due to cheaper labor costs in Mexico, a lot of manufacturing companies moved a large part of their production from the US. This caused the displacement of around 682,900 jobs in America with California, Texas, New York and Michigan being the places that were hit the hardest.

• Positive

• Negative

OPEC is an acronym that means

• Organization of Petroleum Extracting Countries

• Organization of Petroleum Exporting Countries

• Organization of Petroleum Exiting Countries

• Organization of Petroleum Extorting Countries

Why was there an oil embargo on the U.S by OPEC?

• U.S sided with Egypt & OPEC sided with Israel in the Yom Kippur War

• OPEC sided with Egypt & U.S sided with Syria in the Yom Kippur War

• OPEC sided with Israel & U.S sided with Syria in the Yom Kippur War

• U. S sided with Israel & OPEC sided with Egypt & Syria in the Yom Kippur War

This international organization took control of oil prices and oil supply in the 1970s

• International Monetary Fund (IMF)

• World Trade Organization (WTO)

• OPEC (Organization of Petroleum Exporting Countries)

• International Petroleum Confederation

What was OPEC's response to the U.S. assisting Israel in the 1973 Yom Kippur War?

• It's member nations declared war on the United States

• It imposed economic sanction on the US through the UN

• It enacted an oil embargo, cutting off trade to the U.S.

• It increased the sales of oil to enemies of the US like Iran

NAFTA is an agreement between all of the following countries EXCEPT

• United States
• Mexico
• Great Britain
• Canada

What is the primary purpose NAFTA?

• To reduce trade barriers among the US, Canada, and Mexico
• To reduce trade barriers among Central America and Mexico
• To reduce trade barriers among Brazil and Mexico
• To encourage free trade between the US, Europe, and Canada