A removal of trade restrictions:
A)reduces the interference upon gains from trade and therefore increases overall economic wellbeing
B)alters a country's balance of trade and therefore are fully justified
C)can be used to punish other countries and therefore are fully justified
D)protect domestic jobs and therefore are fully justified

Question

Quizplus · Accepted Answer

Removing trade restrictions allows for greater specialization and efficiency, leading to increased gains from trade and overall economic well-being. The other options are not accurate as removing trade restrictions does not typically have a significant impact on a country's balance of trade or the ability to punish other countries. Additionally, protectionism to save domestic jobs may actually harm the economy in the long run.

A Removal of Trade Restrictions