A possible outcome of the multilateral approach to free trade is that such an approach can
A)win political support when a unilateral approach cannot.
B)result in more restricted trade than under a unilateral approach,when international negotiations fail.
C)result in drastic reductions in tariffs for many countries.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

A multilateral approach to free trade involves negotiations and agreements among multiple countries, rather than a unilateral approach taken by a single country. This can lead to greater political support as multiple countries are involved in the decision-making process. However, if negotiations fail, it can also result in more restricted trade than under a unilateral approach. On the other hand, successful multilateral negotiations can lead to drastic reductions in tariffs for many countries, benefiting global trade overall. Therefore, all three options are possible outcomes of a multilateral approach to free trade.

A Possible Outcome of the Multilateral Approach to Free Trade