Which of the Following Is NOT an Expected Benefit of Reducing

question 36

Multiple Choice

Which of the following is NOT an expected benefit of reducing nontariff barriers to trade?

• A)Fewer firms to compete with
• B)Lower prices for many goods
• C)Increase in the volume of exports and imports
• D)Improved overall economic welfare

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Definitions:

Principle of Neutrality

In economic policy, it suggests that decision-making and interventions should not favor any particular market outcome or resource allocation.

Economic Decisions

Choices made by individuals, businesses, or governments regarding the allocation of resources and the distribution of goods and services.

Total Burden

The full impact or total effect of something, often used in economics to refer to the combination of direct and indirect costs associated with a policy or tax.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount they actually do pay.