When no tariffs are imposed on all imports and exports it is called___________?

A. Preferental Trade
B. Free Trade
C. Balance of trade
D. Non-Tariff Barriers
Correct Answer: B. Free Trade

Free Trade refers to a policy where governments do not restrict imports or exports through tariffs or other barriers. Preferential trade, balance of trade, and non-tariff barriers describe different aspects or types of trade policies.

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