Question

How can international trade agreements lead to economic growth?

by creating jobs in the export industries
by opening up new markets for domestic goods
by facilitating cultural exchanges between nations
by reducing expenditures on domestic production

Answer 1

answer: 1-2

i just did the the test and the first two are the correct answer

the last two are wrong three is good but culture will not bring up your economic growth

number four will definitely not help that is sending your money across seas

so again the answer is 1+2

Answer 2

All of the above are true.

1 & 2) Creating new jobs in export industries and opening new markets for domestic goods. Trade agreements open the economy of a country up to new markets, enabling domestic companies to export goods to previously inaccessible markets.

3) Facilitating cultural exchanges between nations: The culture of a society includes the collective knowledge and customs of these societies. Trade agreements facilitate not only the exchange of goods, but often also the exchange of labor in the form of immigration, and with this cultural exchange comes exposure to new ways of doing things. This exchange of new ideas can contribute to economic growth.

4)By reducing Expenditures on domestic production: although this may not benefit the domestic labor market, moving production overseas (also known as outsourcing) can make a country's economy more efficient, which generates economic growth.