Which of the following is an effect of outward-oriented policies?
A)Some countries gain and some lose from trade.
B)They have generally led to high growth for the countries that pursued them.
C)They impede growth in poor countries, but create more jobs.
D)They increase GDP, but also increase overall unemployment.

Question

Quizplus · Accepted Answer

Outward-oriented policies, such as free trade and open investment, have generally led to high economic growth for the countries that have pursued them. This is because these policies allow for increased specialization and efficiency, access to larger markets, and increased competition, which can lead to innovation and technological advancement. While some countries may gain more than others from trade, overall the benefits of outward-oriented policies tend to outweigh the costs.

Which of the Following Is an Effect of Outward-Oriented Policies