When a Tariff Is Placed on Running Shoes,the ________ to Local

question 9

Multiple Choice

When a tariff is placed on running shoes,the ________ to local businesses and local consumers are likely to be greater in dollar terms than the ________ to the owner of a shoe factory and its workers.

• A)gains; gains
• B)gains; losses
• C)losses; gains
• D)losses; losses

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Definitions:

Globalization

The method through which companies or various entities gain global influence or begin to function at an international level, resulting in heightened interconnectivity.

Cultural Practices

Refers to the habits, rituals, and traditions specific to a community or society that reflect their values, beliefs, and way of life.

Distinctive Sets

Collections of elements or items that are clearly different or distinguished from others in specific ways.

Occupations

The various professions, jobs, or ways individuals earn a living and contribute to the economy.