Which American industry has least been affected by import competition in recent years ?
Correct answer: D. Computer software
- A. Automobiles
- B. Steel
- C. Radios and TVs
- D. Computer software
Explanation
Automobiles, steel, and radios and televisions have faced substantial import competition, while U.S. computer software has historically been more internationally competitive and less affected by imports.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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