Which of the following would be the most likely result if trade restrictions among nations were eliminated?
A) Competition would increase, resulting in lower prices and increased choices for consumers.
B) The total volume of trade would decline.
C) All nations would experience an increase in their foreign debt.
D) Revenues from tariffs would increase.

Question

Quizplus · Accepted Answer

Eliminating trade restrictions would likely increase competition among nations, leading to lower prices and increased choices for consumers. This would also incentivize businesses to innovate and produce higher quality products in order to stay competitive.

Which of the Following Would Be the Most Likely Result