An Empowerment Zone Is a Specially Designated Area That Allows

question 158

True/False

An empowerment zone is a specially designated area that allows resident companies to import materials and components from foreign countries;assemble,process,package,or manufacture them;and then ship finished products out while incurring low tariffs and duties or,in some cases,paying no tariffs or duties at all.

---

Definitions:

U.S. Treasury

The federal department responsible for managing government revenue, including producing currency, managing national accounts, and administering public finance.

Currency

A system of money in general use in a particular country for the exchange of goods and services.

Federal Reserve

The Federal Reserve, often referred to as "the Fed," is the central banking system of the United States, responsible for setting monetary policy, regulating banks, maintaining financial stability, and providing banking services to governmental agencies.

Reserve Ratio

The reserve ratio is the fraction of deposits that regulators require a bank to hold in reserve and not lend out. This is a tool used by central banks to control the money supply.