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Mulitple Choice

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MULTIPLE CHOICE 1. When goods that are produced in the United States are sold to China, the goods are a. exported by the United States and imported by China. b. imported by the United States and exported by China. c. exported by the United States and exported by China. d. imported by the United States and imported by China. 2. When the United States engages in international trade with China, a. China reaps economic benefits and the United States loses. b. both China and the United States reap economic benefits. c. it is an equal tradeoff so neither country benefits nor loses. d. China loses and the United States reaps economic benefits. 3. When Ford and General Motors import automobile parts from Mexico at prices below those they must pay in the United States, a. workers who assemble Ford and General Motors vehicles become worse off. b. United States consumers, taken as a group, become worse off. c. Mexican consumers, taken as a group, become worse off. d. American companies that manufacture automobile parts become worse off. 4. An industry that was a major part of the U.S. economy a century ago but is not now is the a. agriculture industry. b. textile and clothing industry. c. coal mining industry. d. automobile industry. 5. One reason for the decline in the U.S. textile industry was a. foreign competition. b. an increase in raw material prices. c. a decrease in U.S. demand for clothing. d. the enactment of the U.S. minimum wage

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