Eliminating trade barriers does all of the following except
A)increases economic efficiency.
B)lowers the average standard of living in a country.
C)lowers domestic prices.
D)All of the above occur when trade barriers are eliminated.

Question

Quizplus · Accepted Answer

Eliminating trade barriers generally leads to increased economic efficiency and lower domestic prices, as domestic producers face competition from foreign producers. However, it does not necessarily lead to a lower average standard of living in a country. In fact, increased trade can lead to higher levels of income and greater access to goods and services for consumers.

Eliminating Trade Barriers Does All of the Following Except