When a movement toward a free trade regime occurs,the pain is a long-term phenomenon,while the gains from trade,once the transition has been made,are both insignificant and short-term.

Question

Quizplus · Accepted Answer

The statement is false. The gains from trade can be significant and long-term once the transition to free trade regime is made. However, there may still be some short-term pain during the transition period.

When a Movement Toward a Free Trade Regime Occurs,the Pain