An Important Factor in the Decline of the U

question 169

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 can 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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Definitions:

Safety Standards

Established norms and criteria designed to ensure products, services, or environments are safe for use or occupation.

Limit Inflow

Measures or policies set to restrict the amount of incoming resources, funds, or foreign currencies into a country or system.

Administrative Delays

Delays in processes or decision-making within an organization, often due to bureaucratic obstacles or inefficiency.

Limit Inflow

A measure or policy implemented to restrict the volume or quantity of something entering a particular system or area.