Statement I: Foreign competition has made many American industries more efficient.
Statement II: Multinational corporations have combined the competitive advantage of low wages in foreign countries with that of high capital.

Question

Quizplus · Accepted Answer

Both statements are true. Statement I is accurate because foreign competition often forces domestic industries to improve efficiency to remain competitive. Statement II is true as multinational corporations often leverage the combination of low labor costs in some countries with high capital and technology from their home countries to gain competitive advantages.

Statement I: Foreign Competition Has Made Many American Industries More