Governments implement Administrative trade policies that are designed to make it difficult for imports to enter a country.
<h3>What is Administrative Trade Policies?</h3>
Administrative trade policies are bureaucratic rules designed to make it difficult for imports to enter a country. These are rules and regulations made by the government to control the entry of particular products into the country.
<h3>What is Trade policy ?</h3>
Trade policy is the set of agreements, regulations, and practices by a government that affect trade with foreign countries. Each nation determines its own standards for trading, including its tariffs, subsidies, and regulations.
Trade policies have a significant effect on the international economy and on financial markets. They affect exchange rates, the availability of goods, and the prices that people pay for them, among many other economic factors.
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Answer:
The retirement costs are rising faster than social security benefits .
Explanation:
The various costs related to retirement are:
- The travelling costs can increase as the retired people tend to travel often in their idle time.
- The costs related entertainments increase as they have time to engage in their hobbies
- Socialization costs: Socialization ends with eating out alot and this affects the wallet
- Health insurance premiums
- Medical expenses are increasing at a tremendous rate
- Long term care : Continuing long term care is proving to be quite expensive for retired people
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