17. Of the following, our imports of contribute most to our trade deficit. (LO6) a) oil c) textiles b) clothing d) consumer electronics 18. Which of the following would best describe our trading relationship with China five years from now? (LO7) a) Our trade deficit will be higher and we will be importing a higher proportion of "low-skill" products. b) Our trade deficit will be higher and we will be importing a higher proportion of "high-skill" products. c) Our trade deficit will be lower and we will be importing a higher proportion of "low-skill" products. d) Our trade deficit will be lower and we will be importing a higher proportion of "high-skill" products. 19. Which statement is the most accurate? (LO1 1) a) Globalization has made some people winners and others losers. b) Globalization has been good for everyone involved. c) Globalization has been bad for everyone involved. d) Virtually all economists believea that globalization has almost no downside