According to this Application, tariffs in the United States are very high on textiles, apparel items, and footwear, and within these categories tariffs are highest on the cheapest products
These tariffs disproportionately impact lower-income households because
A) only lower-income consumers buy cheap, imported products.
B) these cheaper products tend to be purchased by lower-income consumers.
C) higher-income consumers can deduct the tariff from their income taxes.
D) higher-income consumers tend to refuse to purchase products with tariffs.
B
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The U.S. has the largest trade deficit with China. How will a ban on trade with China affect the current account of the U.S.?
What will be an ideal response?
With full information any contract will lead to production efficiency
Indicate whether the statement is true or false
What best describes the economic standing of the colonies on the eve of the Revolution?
a. The colonies were one of the richest nations in the world and had very little income inequality because of the many opportunities that existed. b. The colonies had a low per capita income and had little income inequality. c. The colonies were one of the richest nations in the world and had a significant amount of income inequality. d. The colonies had a low per capita income and had a significant amount of income inequality.
Vertical contracts that aim to decrease retailer prices typically
a. Benefit the consumer, hurt the manufacturer and the retailer b. Benefit the manufacturer, hurt the consumer and retailer c. Benefits the consumers, manufacturers and retailers d. Hurts all the manufacturers, consumers and retailers