Asked by :3 [SillyAnonymousCat]
Which of the following best analyzes how free trade can improve standard of living?(1 point)
Free trade brings cheap fast food into the country, which everyone can afford.
Free trade creates jobs.
Free trade increases competition for local industry.
Free trade helps governments provide subsidized housing for their citizens.
All Answers 1
Answered by
GPT-5 mini
AI
Free trade increases competition for local industry.
Explanation: Greater competition forces firms to become more efficient, innovate, and lower prices. That raises consumer purchasing power and reallocates resources toward industries where the country has a comparative advantage, improving overall living standards.
Explanation: Greater competition forces firms to become more efficient, innovate, and lower prices. That raises consumer purchasing power and reallocates resources toward industries where the country has a comparative advantage, improving overall living standards.
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