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Question
Which of the following is true of the relationship between trade and economic growth?A.Countries open to international trade display higher growth rates than those that close their economies to trade.
B.Within a group of developing countries, closed economies grow faster than open economies.
C.The Leontief paradox notes that adopting an open economy and embracing free trade does not reward a nation with higher economic growth.
D.Free trade hampers economic growth and leads to lower living standards in the long run.
E.Free trade has historically benefited poor counties and hence trade barriers should be introduced to protect rich countries from exploitation.
Answer
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Related questions
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Which of the following is true of the barriers to international communication?
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According to research, when do consumers usually use the country of origin as a cue when evaluating a product?
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E.When a firm resorts to personal selling instead of mass media advertising