Practice Quiz

Praxis II Social Sciences Content Knowledge Exam Prep

Category - Macroeconomics

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How do a particular nation’s citizens benefit from buying goods that have been imported?
  1. Competition by imported goods will cause prices of domestic items to drop
  2. Domestic employment will rise as jobs are created to market and sell imported goods
  3. There will be an increasingly large selection of products available on the market
  4. Learning about goods and the countries where they have been imported from leads to a more highly educated population
Explanation
Answer - C - Citizens benefit from buying goods that have been imported in that there will be an increasingly large selection of products available on the market.

Key Takeaway: The only immediate and knowable benefit of buying imported goods from another country is that there will be an increasingly large selection of products available on the market. Sometimes imported goods will cause prices of domestic items to drop; sometimes this is not the case. (B) is incorrect because rarely will importing goods cause domestic employment to rise. And although it would be nice if (D) were true, purchasing decisions do not typically lead to higher education levels.
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