Which of the Following Statements Is True

question 35

Multiple Choice

Which of the following statements is true?

• A)Economic efficiency would be increased if the United States eliminated all of its trade restrictions,but only if all other countries eliminated their trade restrictions too.
• B)The U.S.economy would gain from the elimination of its tariffs but not from the elimination of its quotas.
• C)Eliminating its tariffs and quotas unilaterally would not benefit the United States because this would remove the leverage it would have to persuade other countries to eliminate their trade restrictions.
• D)The U.S.economy would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas.

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