Which of the following statements describes reasons why free trade is beneficial for the United States?
A) Free trade increases consumer surplus for imported goods that are cheaper than U.S. goods.
B) Free trade directs U.S. resources to those goods and services for which the United States has a comparative advantage.
C) Through specialization the U.S. and its trading partners can use the same overall amount of resources to produce and consume a larger amount of goods.
D) All of these statements are correct.
Correct Answer:
Verified
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