Question

Which statements reflect the purpose of trade agreements? Check all that apply.

They make it easier for nations to do business.
They increase product choices for consumers.
They prevent two nations from exchanging goods.
They regulate the tariff rates that a nation pays on its exports.
They reduce or remove trade barriers.

Answer 1

The Correct answers would be: A B and E

Answer 2

Correct answer choices are :

A) They make it easier for nations to do business.

B) They increase product choices for consumers.

E) They reduce or remove trade barriers.

Step-by-step explanation:

Trade agreements are when two or more nations agree on the articles of trade between them. They decide the tariffs and duties that countries require on imports and exports. All trade agreements influence international trade. Trade agreements promote the unlimited flow of goods and services and their competitive availability. Smaller firms are more influenced by tariffs and non-tariff restrictions and profit much more from trade agreements than their multinational complements.