Question

Which of the following best analyzes how free trade can

improve standard of living? (1 point)
Free trade creates jobs.
Free trade increases competition for local industry.
Free trade brings cheap fast food into the country, which
everyone can afford.
Free trade helps governments provide subsidized housing
for their citizens.

Answer 1

[AI-generated answer — Bot GPT 3.5]

The option that best analyzes how free trade can improve standard of living is "Free trade increases competition for local industry." When countries engage in free trade, it opens up their markets to competition from imported goods and services. This competition can lead to improvements in efficiency, productivity, and quality within local industries, ultimately benefiting consumers by providing them with a wider variety of goods at potentially lower prices.