Which of the following statements is true?
A) Free trade is beneficial only if your country is strong enough to stand up to foreign competition.
B) Free trade is beneficial only if your competitor does not pay unreasonably low wages.
C) Free trade is beneficial only if both countries have access to the same technology.
D) Free trade is never beneficial for developing countries.
E) Free trade can be beneficial to economic welfare of all countries involved.

Question

Quizplus · Accepted Answer

Free trade can be beneficial to the economic welfare of all countries involved. While there may be concerns about unfair competition or differing levels of technology, in general, free trade leads to increased efficiency, specialization, and lower prices for consumers. Developing countries can also benefit from access to markets and increased trade. However, it is important for governments to address any negative effects on workers or industries that are disproportionately impacted by free trade.

Which of the Following Statements Is True