Let’s lookmorecloselyat theeffectsof tariffsand quotasonapparelpurchasedbydifferentincomegroups.

Assumingthat20percentof thepriceofclothingisdue totariffsandquotas, calculate thedollarcostof tariffs andquotason familiesmaking the following incomes.

Thencalculate the percentageof its income that each familypaysbecauseof tariffsandquotas.

1. Familyincome¼$50,000;cost: ;

percentageof income: .

2. Familyincome¼$25,000;cost: ;

percentageof income: .

3. Familyincome¼$10,000;cost: ;

percentageof income: .

4. Dotariffsandquotashit lower-incomefamiliesthe hardest,asNewsweekmaintains?