The Smoot-Hawley trade bill of 1930, designed to save jobs and increase revenue for the federal government, resulted in
a. an increase in both employment and federal tax revenue.
b. a sharp reduction in trade and a decline in federal tax revenue.
c. the protection of jobs while maintaining the level of trade, but it did not increase federal tax revenue.
d. a decline in the volume of trade, but an increase in revenue from tariffs, which made it possible for the federal government to balance its budget.
B
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Consumer purchases which are consumed at the time and place of purchase are categorized by the Bureau of Economic Analysis as
A) durable goods. B) nondurable goods. C) services. D) investments.
If marginal cost is less than average cost, average cost must fall when more units are produced
a. True b. False Indicate whether the statement is true or false
One explanation for the increase in the natural rate of unemployment in 2010 was a mismatch between the skills of the American labor force and the skills that the modern job market demanded
a. True b. False Indicate whether the statement is true or false
If imports = 500 billion euros, exports = 700 billion euros, purchases of domestic assets by foreign residents = 600 billion euros, and purchases of foreign assets by domestic residents = 800 billion euros, what is the quantity of euros demanded in the market for foreign-currency exchange?
a. 1,100 billion euros b. 600 billion euros c. 500 billion euros d. 200 billion euros