Reduced barriers to trade help explain an increase in U.S. exports and imports relative to GDP since 1950.

Question

Quizplus · Accepted Answer

Since 1950, reduced trade barriers, such as tariffs and quotas, have facilitated a more open global trading environment, allowing for an increase in the volume of exports and imports relative to the GDP in the U.S. This has been further supported by advancements in technology and logistics, making international trade more efficient and accessible.

Reduced Barriers to Trade Help Explain an Increase in U