Question

Data on trade barriers and the growth of per capita GDP indicate that Question 9 options:

A. there is no link between the degree of a country's trade openness and its economic growth.

B. more open economies have grown more rapidly than those that have imposed substantial barriers restricting trade.

C. economies that have imposed high trade barriers have, on average, grown more rapidly than economies that are more open to international trade.

D. countries with higher trade barriers have been able to achieve higher levels of per capita GDP than those that are more open to international trade.

E. both c and d are correct.

Answer 1

B. more open economies have grown more rapidly than those that have imposed substantial barriers restricting trade.

Step-by-step explanation:

• Form the point of the advanced economies the presence of the high trade barriers has made due to the tariff reductions and have been the important drivers of the productive growth in the past.

• While the trade barriers in these advanced nations reductions have lead to the increase of the productivity gains in various sectors of the economy. An open market economy has large growth in the GDP and is an indicator of the health of the country.