Suppose that Bangladesh, a relatively poor, agricultural nation with a low level of technological development, has been able to improve its technology since it joined a free-trade agreement. Which of the following benefits of international trade describes this free-trade benefit that Bangladesh enjoys? a. Increased competition b.Increased variety of goods c.Lower unit costs through economies of scale d. Enhanced flow of ideas Bangladesh has been able to improve its technology through imports due to its adherence to a multilateral approach to trade restrictions that has dramatically reduced average tariffs among member nations and is known as the ______________. a. North America Free Trade Agreement (NAFTA) b. General Agreement on Tarrif and Trade (GATT) c. World Trade Organization (WTO)
Suppose that Bangladesh, a relatively poor, agricultural nation with a low level of technological development, has been able to improve its technology since it joined a free-trade agreement. Which of the following benefits of international trade describes this free-trade benefit that Bangladesh enjoys? a. Increased competition b.Increased variety of goods c.Lower unit costs through economies of scale d. Enhanced flow of ideas Bangladesh has been able to improve its technology through imports due to its adherence to a multilateral approach to trade restrictions that has dramatically reduced average tariffs among member nations and is known as the ______________. a. North America Free Trade Agreement (NAFTA) b. General Agreement on Tarrif and Trade (GATT) c. World Trade Organization (WTO)
Chapter21: International Trade And Finance
Section: Chapter Questions
Problem 10SQ
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Suppose that Bangladesh, a relatively poor, agricultural nation with a low level of technological development, has been able to improve its technology since it joined a free-trade agreement. Which of the following benefits of international trade describes this free-trade benefit that Bangladesh enjoys?
a. Increased competition
b.Increased variety of goods
c.Lower unit costs through economies of scale
d. Enhanced flow of ideas
Bangladesh has been able to improve its technology through imports due to its adherence to a multilateral approach to trade restrictions that has dramatically reduced average tariffs among member nations and is known as the ______________.
a. North America Free Trade Agreement (NAFTA)
b. General Agreement on Tarrif and Trade (GATT)
c. World Trade Organization (WTO)
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