Asked by SamanthaRey Colón on May 18, 2024
Verified
Which of the U.S. industries below has not seen major shutdowns and layoffs because of free foreign trade?
A) textiles
B) accounting services
C) steel
D) apparel
Accounting Services
Professional services that include the maintenance, auditing, and reporting of financial statements and records for individuals or businesses.
Free Foreign Trade
The exchange of goods and services across international borders or territories without the imposition of restrictions such as tariffs, quotas, or other barriers.
- Appreciate the benefits of international trade to economies, including the concept of consuming beyond domestic production possibilities.
Verified Answer
CA
Camille AltemeMay 19, 2024
Final Answer :
B
Explanation :
Accounting services is a service-based industry that is less affected by foreign trade as it involves providing specialized knowledge and expertise to clients rather than manufacturing goods.
Learning Objectives
- Appreciate the benefits of international trade to economies, including the concept of consuming beyond domestic production possibilities.
Related questions
The Greatest Benefit to an Economy from International Trade Is ...
Benefits from International Trade Are Based on Differences in the ...
The Main Advantage of ________ Is the Ability to Move ...
If Exchange Rates End Up in the Right Ranges, the ...
Trade Allows the People of a Country to Produce Outside ...