Which of the following has occurred in international trade over the past half-century?
A)There has been a dramatic increase in the 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 increased.
D)The volume of world trade has decreased dramatically.
E)There has been a decline in the value of foreign direct investment.

Question

Which of the following has occurred in international trade over the past half-century?
A)There has been a dramatic increase in the 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 increased.
D)The volume of world trade has decreased dramatically. 
E)There has been a decline in the value of foreign direct investment.

Quizplus · Accepted Answer

Tariff rates on manufactured goods traded by advanced nations have been reduced significantly over the past half-century, due to the growth of international trade agreements such as GATT, WTO, and free trade areas like NAFTA, EU.

Which of the Following Has Occurred in International Trade Over