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The So-Called American System

Question 45

Multiple Choice

The so-called American System


A) involved the use of high tariffs to protect new industries.
B) reduced costs and revolutionized production through labor-saving innovations in manufacturing.
C) referred to the establishment of a common market for the western hemisphere.
D) embraced free trade and the absence of tariffs.
E) was reminiscent of the medieval guild system of wage and price controls.

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