International trade is important to the United States in order to:

• A. increase barriers to foreign investment
• B. eliminate the need for domestic production entirely
• C. access goods and services that are not produced domestically
• D. reduce the variety of products available to consumers

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the role of international trade in microeconomics, which primarily involves the exchange of goods and services across countries to improve economic welfare.
2. Step 2: Recognize that international trade allows countries to specialize in producing goods where they have a comparative advantage, leading to more efficient production.
3. Step 3: Identify that one key benefit of international trade is gaining access to goods and services that are not produced domestically, thereby increasing consumer choice and variety.
4. Step 4: Note that international trade does not aim to increase barriers to foreign investment; rather, it often encourages openness and reduces such barriers.
5. Step 5: Understand that international trade does not eliminate the need for domestic production entirely, nor does it reduce the variety of products available; instead, it complements domestic production and expands product variety.