How are goods manufactured in other countries creating jobs in the United States?
A. People whose jobs were outsourced are now discouraged workers.
B. People who have lost jobs have more time to shop and therefore increase demand for goods.
C. U.S. firms are specializing in managing the trade of these goods.
D. Foreign countries are importing U.S. natural resources.
Answer: C
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The term "crowding out" refers to the phenomenon that occurs when increased government spending
A) raises the price level and reduces consumption. B) leads to higher interest rates which reduces private investments. C) leads to higher bond prices which decreases the demand for Treasury bonds. D) leads to increased budget deficits that ultimately warrant increases in income taxes.
Competition keeps prices lower for consumers. So why do we have patent laws?
What will be an ideal response?