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mrive3127 mrive3127
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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), who would benefit the most?

▸ low-income consumers

▸ the U.S. government

▸ high-income consumers

▸ the foreign manufacturer
Textbook 
Macroeconomics: Principles, Applications and Tools

Macroeconomics: Principles, Applications and Tools


Edition: 7th
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KaajalpKaajalp
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4 years ago
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mrive3127 Author
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4 years ago
Just got PERFECT on my quiz
emilyas19
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Yesterday
Good timing, thanks!
Alina01978
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2 hours ago
Thanks
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