Exchange Across International Borders

The success of an economy in effectively employing the fourfactors of production determines how well that economy performs relative to its potential and relative to other economies.

Address the following:

• Evaluate non-monetary benefits that open trade has contributed to the world since the end of World War II.
• Provide at least 2 examples of the above benefits and explain why you believe each is important.
• Analyze how changes to U.S. trade and tariff policies affected U.S. trade with other nations.