Economics · Free Trade

What does 'Free Trade' imply for an economy?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1A system where all foreign goods are traded exclusively using a single global currency.
2The restriction of imports to match the exact value of domestic exports.
3A trade policy where government subsidizes all domestic export industries.
4The complete absence of protective tariffs, quotas, or restrictions on imports and exports.✓

Correct answer

The complete absence of protective tariffs, quotas, or restrictions on imports and exports.

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