Which of the Following Was a Consequence of Lowered Tariffs

question 45

Multiple Choice

Which of the following was a consequence of lowered tariffs between the United States and other countries through the North American Free Trade Agreement (NAFTA) and other free-trade agreements in the 1990s?

• A)Many American industrial workers became unemployed.
• B)The American manufacturing sector recovered.
• C)Competition from foreign companies decreased.
• D)There was a decline in the quality of domestic goods.
• E)The purchasing power of consumers declined.

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Definitions:

Marginal Tax Rate

The rate at which the last dollar of income is taxed, reflecting the percentage of tax paid on any additional dollar of income.

British Columbia

A province located on the west coast of Canada, known for its natural beauty, including mountains, forests, and coastline.

Taxable Income

Taxable Income is the amount of an individual's or a company's income used to determine how much tax will be owed to the federal government.

Marginal Tax Rate

The rate of tax applied to your next dollar of income, representing the percentage of tax you pay on any additional income.