Tariff Rates on Products Imported into the U.S

question 51

Multiple Choice

Tariff rates on products imported into the U.S.

• A) have dropped substantially over the past 50 years.
• B) were prohibited by the Constitution.
• C) reached an all time high in 2002.
• D) have risen steadily since 1920.
• E) were the government's main source of income in 2006.

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Definitions:

Futures Contracts

A standardized legal agreement to buy or sell something at a predetermined price at a specified time in the future, often used for hedging or speculation on financial markets.

Profit or Loss

A financial statement that provides a summary of a company's revenues, costs, and expenses over a specific period, showing the net amount earned or lost.

Open Interest

the total number of outstanding derivative contracts, like futures or options, that have not been settled.