The late twentieth century has been characterized by an increase in free trade agreements. Advocates of free trade argue that it results in...answer choices- higher unemployment- increased immigrations- lower corporate tax rates- increased economic growth

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19-12-2022
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The late twentieth century has been characterized by an increase in free trade agreements. Advocates of free trade argue that it results in...answer choices- higher unemployment- increased immigrations- lower corporate tax rates- increased economic growth

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akursharma9034 akursharma9034 · Answer 1 · 2022-12-27T02:09:35-05:00

An growth in free trade agreements has been a defining feature of the late 20th century. Free trade proponents contend that it boosts economic growth.

Economic growth is the increase or improvement in the market value of the goods and services produced by an economy over the course of a fiscal year. Statisticians often measure this growth as an increase in the real GDP, or gross domestic product, as a percentage. To remove the distorting influence of inflation on the prices of produced items, growth is typically calculated in real terms, i.e., terms adjusted for inflation. Economic growth is determined through the use of national income accounting. Since economic growth is determined by the annual percent change in GDP, both the advantages and disadvantages of that strategy are present. Countries' economic growth rates are frequently compared using the GDP to population ratio (per-capital income).

Learn more about economic growth here

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