Question

In promoting free trade, the author seems to be supporting A) fair and responsive standards to reduce trade barriers. B) fair and responsive standards to increase trade barriers. C) higher standards on Chinese goods to reduce software piracy. D) lower standards on Chinese goods to decrease investment by U.S. companies in China.

Answer 1

Answer:

The correct answer is A. In promoting free trade, the author seems to be supporting fair and responsive standards to reduce trade barriers.

Explanation:

Free trade is trade that is not regulated by tariffs, import quotas or other similar trade policy measures. The opposite of free trade is protectionism.  

The vast majority of economists in the scientific community are in favor of free trade, stating that it has a positive impact on economic growth and the level of development, while protectionism has a negative impact on growth and the level of wealth.

Free trade exists among other EU member states. It is also possible to consider trade within a country as free trade. The countries with the lowest tariffs as a share of total foreign trade are industrial countries such as the EU countries, Canada and Australia. However, these apply very high tariffs on agricultural products and textiles. Developing countries in Latin America, Africa and Asia have higher tariffs.