If trade restrictions among nations were eliminated, economists predict

Answer

competition would increase, resulting in lower prices and increased choices for consumers.

the total volume of trade would decline.

all nations would experience an increase in their foreign debt.

revenues from tariffs would increase.

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Zavier Skinner

22 February, 10:32

If trade restrictions among nations were eliminated, economists predict

Answer

competition would increase, resulting in lower prices and increased choices for consumers.

the total volume of trade would decline.

all nations would experience an increase in their foreign debt.

revenues from tariffs would increase.

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Answers (1)

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Gideon Long · Answer 1

Generally speaking, if trade restrictions among nations were eliminated, economists predict that " competition would increase, resulting in lower prices and increased choices for consumers," although certain lower GDP countries would also be excluded from trade.