Recall the Application About the Impact Tariffs Have on Lower

question 207

Multiple Choice

Recall the Application about the impact tariffs have on lower income households to answer the following question(s) . Economists have found that tariffs in the United States fall most heavily on lower-income consumers. In the United States, tariffs are very high on textiles, apparel items and footwear, and within these categories the highest tariffs fall on the cheapest products. In general, to protect U.S. industries, tariffs are highest on labor-intensive goods.
-Recall the Application.Because U.S.tariffs are higher on textiles,footwear and apparel items,U.S.tariffs fall relatively most heavily on

• A) the middle class.
• B) the rich.
• C) the poor.
• D) the government.

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Definitions:

Net Operating Income

The net amount a business earns after subtracting operating costs, excluding taxes and interest expenses.

Margin

A financial metric reflecting the difference between a product's selling price and the cost to produce it, commonly expressed as a percentage of the selling price.

Investment Opportunity

A financial or business venture or asset that has the potential to yield returns or profits.

Turnover

The rate at which inventory is sold and replaced over a given period or the rate at which employees leave and are replaced in a company.