Question
Trade between countries can be free or restricted. Free trade creates the most overall wealth around the world. Sometimes countries sign free trade agreements, which allow them to trade with each other with few barriers. For example, the North American Free Trade Agreement (NAFTA) was implemented in 1994 to reduce trade barriers between the US, Mexico and Canada. In 2018, the three countries signed a new trade deal to replace NAFTA. The new deal, called the United States-Mexico-Canada Agreement (USMCA), includes updates for automakers, labor standards and environmental practices.
Free trade agreements always
A
allow trade with the US.
B
reduce barriers to trade.
C
include standards for labor.
D
decrease worldwide wealth.
Free trade agreements always
A
allow trade with the US.
B
reduce barriers to trade.
C
include standards for labor.
D
decrease worldwide wealth.
Answers
GPT-4o mini
The correct answer is:
**B - reduce barriers to trade.**
Free trade agreements are designed to reduce or eliminate barriers to trade between the participating countries, which can enhance economic cooperation and increase trade flows.
**B - reduce barriers to trade.**
Free trade agreements are designed to reduce or eliminate barriers to trade between the participating countries, which can enhance economic cooperation and increase trade flows.