During the second half of the twentieth century, trade barriers have in general:
A) declined quite substantially both in the U.S. economy and in the global economy.
B) declined quite substantially in the U.S. economy but not in the global economy.
C) increased quite substantially in the U.S. economy and in the global economy.
D) increased quite sbstantially in the U.S. economy but not in the global economy.

Question

Quizplus · Accepted Answer

During the second half of the twentieth century, there was a significant trend towards globalization, marked by the reduction of trade barriers such as tariffs and quotas, both in the U.S. and globally. This was facilitated by agreements like GATT and later the WTO, as well as regional trade agreements like NAFTA.

During the Second Half of the Twentieth Century, Trade Barriers