Free trade: 1. discourages growth by increasing competitive pressures on domestic firms. 2. encourages growth by effectively eliminating all patent and copyright barriers to growth. 3. discourages growth compared to situations where the government strongly controls foreign trade. 4. encourages growth by promoting the rapid spread of new inventions and innovations.
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Step 1: Free trade discourages growth by increasing competitive pressures on domestic firms. Show more…
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