The Australia-United Kingdom Free Trade Agreement (AUKFTA) is a bilateral trade agreement designed to eliminate tariffs and reduce non-tariff barriers between the United Kingdom (UK) and Australia. It is estimated that it will boost bilateral trade by 53% in the long run and expand the UK's GDP by £2.3 billion.
Which one of the following is most likely to decrease as a result of the AUKFTA?
GDP growth in the United Kingdom
UK exports of goods and services to Australia
Import volumes from Australia to the United Kingdom
Tariffs on British consumer goods exported to Australia
13 exam-style questions on Edexcel A A Level Economics 4.1.6 Restrictions on free trade. Each one has a worked solution and a mark scheme showing where the marks go.