Final answer:
Nations use various policies to control or direct international trade, including import tariffs and export subsidies, free trade agreements and trade barriers, currency exchange rates and trade deficits, and economic sanctions and trade partnerships. Hence all of the above options are correct.
Step-by-step explanation:
Nations use various policies to control or direct international trade. One such policy is import tariffs and export subsidies. Import tariffs are taxes imposed on imported goods, while export subsidies are financial incentives given to domestic producers for exporting goods. These policies are used to protect domestic industries and promote exports.
Another policy is free trade agreements and trade barriers. Free trade agreements are treaties between countries that eliminate or reduce trade barriers, such as tariffs and quotas, to facilitate the flow of goods and services. On the other hand, trade barriers are restrictions placed by countries to protect their domestic industries from foreign competition.
Additionally, nations use currency exchange rates and trade deficits as policies to control or direct international trade. Currency exchange rates can affect the competitiveness of a country's exports and imports. Trade deficits, which occur when a country imports more than it exports, can also impact trade policies as countries may implement measures to reduce their deficits.
Lastly, economic sanctions and trade partnerships are policies used by nations. Economic sanctions are punitive measures imposed on a country to restrict or discourage trade due to political or economic reasons. On the other hand, trade partnerships, such as preferential trade agreements, are formed to promote closer economic ties and facilitate trade between countries.