The Quantitative Importance of U

question 32

Multiple Choice

The quantitative importance of U.S. protection of the domestic clothing industry is best explained by the fact that

• A) this industry is an important employer of highly skilled labor.
• B) this industry is an important employer of low skilled labor.
• C) most of the exporters of clothing into the U.S. are poor countries.
• D) this industry is a politically well-organized sector in the U.S.
• E) the technology involved is very advanced.

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Definitions:

Cash

Money in the form of bills or coins; physical currency that is used as a medium of exchange.

Assignment

A process by which one party transfers rights, duties, or property to another.

Promissory Note

A financial instrument in which one party promises in writing to pay a determinate sum of money to another, either at a fixed or determinable future time or on demand of the payee.

Payee

A person to whom an instrument is made payable.