In 1930,the U.S.government attempted to help domestic firms that were harmed by the Great Depression by passing the Smoot-Hawley Tariff.In response to this tariff,other countries ________ and international trade ________.
A) lowered their tariffs; thrived
B) raised their tariffs; collapsed
C) eliminated tariffs; began to grow outside of the United States
D) doubled their tariffs; became unrestricted
Correct Answer:
Verified
Q165: Figure 7-5 Q166: In general,the costs tariffs and quotas impose Q167: Many economists _ protectionism because it _ Q168: One reason for the success that firms![]()
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