Following is (are) advantage(s) of joining WTO:Select one:a.Freer trade cuts the costs of livingb.Free trade reduces the manufacturing costc.Governments are shielded from lobbyingd.All of the above
Question
Following is (are) advantage(s) of joining WTO:Select one:a.Freer trade cuts the costs of livingb.Free trade reduces the manufacturing costc.Governments are shielded from lobbyingd.All of the above
Solution
The correct answer is d. All of the above.
Here's why:
a. Freer trade cuts the costs of living: This is true because when countries can freely trade with each other, they can import goods at a cheaper price, which can lower the cost of living for their citizens.
b. Free trade reduces the manufacturing cost: This is also true because free trade allows countries to import raw materials and other goods needed for manufacturing at a lower cost.
c. Governments are shielded from lobbying: This is true because the WTO provides a framework for trade policies and a platform for trade negotiations, which can help governments resist pressure from different interest groups.
So, all of the statements are advantages of joining the WTO.
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