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.

Question

Quizplus · Accepted Answer

Foreign competitors have been able to produce quality textile goods at lower costs, which has made it difficult for the U.S. textile industry to compete. This has been a major factor in the decline of the U.S. textile industry over the past 100 or so years.

An Important Factor in the Decline of the U