Asked by
Andrew Kensey
on Dec 12, 2024
Verified
If labor-intensive textile products could be produced more cheaply in low-wage countries than in the United States, the United States would gain if it
A) levied a tariff on the goods produced by the cheap foreign labor.
B) subsidized the domestic textile industry so it could compete in international markets.
C) used its resources to produce other items while importing textiles from foreigners.
D) levied a tax on the domestic textile products to penalize the industry for inefficiency.
Labor-Intensive
A process or industry that requires a large amount of labor to produce its goods or services, often necessitating significant workforce employment.
Textile Products
Goods produced by weaving, knitting, or felting fibers, including clothing, towels, and bedding.
- Gain an understanding of the core principles and disputes related to globalization and free trade.
- Analyze the impact of international commerce on employment and various industries within high-income and low-income nations.
Verified Answer
AD
Learning Objectives
- Gain an understanding of the core principles and disputes related to globalization and free trade.
- Analyze the impact of international commerce on employment and various industries within high-income and low-income nations.
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