1. The government allocates the payroll tax to which one of the following: National Defense
Education
Healthcare

2. Explain one economic advantage for The Unite States to impose a tariff on foreign exports.

1. The government allocates the payroll tax to which one of the following:

Healthcare

2. Explain one economic advantage for The Unite States to impose a tariff on foreign exports.

Put simply, a tariff is a specific tax levied on an imported good at the border. Tariffs have historically been a tool for governments to collect revenues, but they are also a way to protect domestic industry and production. The theory is that with an increase in the price of imports, American consumers would choose to buy American goods instead. In today’s global economy, many products we buy in the United States have parts from other countries, or were assembled in other countries, or were manufactured entirely overseas.