Trade Barriers

Question 1

Tariffs are a tax placed on goods.Tariffs are used to give domestically produced goods in the market.As a result of tariffs, imported goods become expensive for consumers

Revolt · Accepted Answer

imported; Selection 1: imported; Selection 2: an advantage; Selection 3: more

Question 2

a disadvantage✔ an advantage

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an advantage

Question 3

less✔ more

Revolt · Accepted Answer

more

Question 4

The Hawley-Smoot Tariff Act passed in January . The act was passed by Congress the start of the Great Depression.The purpose of the act was to purchases of domestic goods.

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Selection 1: 1930; Selection 2: after; Selection 3: increase

Question 5

What did government leaders hope the result of the new tariff would be?

Revolt · Accepted Answer

increased sales for domestic producers

Question 6

Which outcomes resulted from the passage of the Hawley-Smoot Tariff Act? Check all that apply.

Revolt · Accepted Answer

Countries around the world increased their tariffs in response.; Domestic industries initially benefited from new tariffs.; Imports and exports exchanged between the United States and Britain fell by nearly 66%.

Question 7

In response to the economic trends triggered by the Great Depression and the Hawley-Smoot Tariff Act, President Roosevelt signed the Reciprocal Trade Agreements Act.What was the main purpose of this act?

Revolt · Accepted Answer

It allowed the US government to work with other countries to reduce tariffs.

Question 8

Which actions were taken after WWII to help ensure that an economic crisis like the Great Depression would not occur again? Check all that apply.

Revolt · Accepted Answer

The Bretton Woods Agreement created a system to connect the world’s currencies.; The General Agreement on Tariffs and Trade reduced trade barriers.

Question 9

before✔ after

Revolt · Accepted Answer

after

Trade Barriers Answers

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