Final answer:
The Harding administration's policies benefited domestic businesses through tax cuts, budgeting reforms, and protective tariffs, despite not significantly aiding agricultural producers who faced low prices and overproduction issues.
Step-by-step explanation:
The area of the economy that benefited from the policies of the Harding administration was domestic businesses. President Harding's pro-business policies included tax rate cuts and the creation of a formal budgeting process.
Furthermore, the Emergency Tariff of 1921 was instituted to protect U.S. agriculture and businesses from lower-priced imports, subsequently increasing American purchasing power despite inflating the prices of goods. Contrarily, although attempting to boost prosperity, these policies did not favor agricultural producers effectively, as they continued to struggle with overproduction and low prices.
Moreover, Harding's approach to running government like a business with cabinet members like Secretary of Commerce Herbert Hoover and Secretary of the Treasury Andrew Mellon further underscores the administration's dedication to supporting business interests.