An Important Factor in the Decline of the U

question 194

Multiple Choice

An important factor in the decline of the U.S.textile industry over the past 100 or so years is

• A)foreign competitors that could produce quality textile goods at low cost.
• B)lower prices of goods that are substitutes for clothing.
• C)a decrease in Americans' demand for clothing, due to increased incomes and the fact that clothing is an inferior good.
• D)the fact that the minimum wage in the U.S.has failed to keep pace with the cost of living.

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