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Home Q & A Board Other Fields Homework Help Business Economics
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Crystalboo92 Crystalboo92
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4 years ago
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.


If the tariffs on the textiles, apparel items and footwear mentioned in the Application were replaced by equivalent voluntary export restraints (VERs), low-income consumers would probably

▸ be worse off.

▸ be better off.

▸ be no better nor worse off.

▸ not be subject to the VERs.
Textbook 
Macroeconomics: Principles, Applications and Tools

Macroeconomics: Principles, Applications and Tools


Edition: 7th
Authors:
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#1
4 years ago
be no better nor worse off.
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