Questions and Answers
What is one of the arguments for free trade mentioned in the text?
Producers and consumers allocate resources most efficiently without government distortion
What is the estimated cost of protection for the world as a whole?
Less than 1 percent of GDP
Who benefits more from free trade according to the text?
Developing countries
What is the impact of a tariff on production and consumption?
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What is the argument against free trade mentioned in the text?
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