Trade barriers: Group of answer choices are still used by nations as a means of rewarding their friends and punishing their enemies arise entirely from a failure to understand comparative advantage have been increased through GATT are totally responsible for the large fluctuations in U.S. exports in recent years

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31-07-2021
Business

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Trade barriers: Group of answer choices are still used by nations as a means of rewarding their friends and punishing their enemies arise entirely from a failure to understand comparative advantage have been increased through GATT are totally responsible for the large fluctuations in U.S. exports in recent years

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Baraq Baraq · Answer 1 · 2021-08-01T02:22:47+02:00

Answer:

are still used by nations as a means of rewarding their friends and punishing their enemies

Explanation:

Trade barriers "are still used by nations as a means of rewarding their friends and punishing their enemies."

The above statement is based on the fact that trade barriers have been analyzed to be damaging and reduce the total economic advantage of the affected countries.

For example, the imposition of taxes on food imports and subsidies for farmers in advanced countries leads to overproduction and eventually dumping on world markets, thereby reducing the prices and affecting the developing countries' farmers.