Which of the following has occurred in international trade over the past half-century?
A)There has been a dramatic lowering of barriers to international trade.
B)Tariff rates on manufactured goods traded by advanced nations have fallen.
C)Regulations prohibiting foreign companies from entering domestic markets and establishing production facilities have been removed.
D)The volume of world trade has increased dramatically.
E)All of these choices.

Question

Quizplus · Accepted Answer

All of the given choices have occurred in international trade over the past half-century. There has been a significant reduction in trade barriers, especially through the formation of international trade agreements. Tariff rates on manufactured goods traded by advanced nations have decreased due to the elimination of protectionist policies. Many countries have removed regulations that prohibited foreign companies from entering their markets and establishing production facilities. As a result, the volume of world trade has increased dramatically over the past few decades.

Which of the Following Has Occurred in International Trade Over