Working for the new Biden administration, you are given a report analyzing a policy idea for a total ban on imports from China. Using the modified ACR formula (shown below), the report estimates that such a ban would reduce real incomes in the United States by 1 percent. Write a few sentences to critique this interpretation. Gt = y Be (1 + T) - 1 where y is the domestic expenditure share 1 - imp gross output , 3 is the intermediate input share, T is tariff revenue share, and & is the trade elasticity (w.r.t variable trade costs)