A particularly odd aspect of the Smoot-Hawley tariff-raising binge was that the United States was running a balance-of-payment surplus at the time and it was the world's largest _____ nation.

Question

Quizplus · Accepted Answer

A creditor nation is one that has a positive balance of payments, meaning that it exports more than it imports and thus has a surplus of funds coming in from abroad. The question states that the United States was running a balance-of-payment surplus at the time, which means it was a creditor nation.

A Particularly Odd Aspect of the Smoot-Hawley Tariff-Raising Binge Was