In general, in the 19th century, America
(a) was a low tariff nation because it was believed that free trade brought specialization, efficiency and more rapid economic growth.
(b) was a nation that kept its tariffs at about the same levels as England so as not to give the British an advantage.
(c) was a high tariff nation which believed, from the days of Alexander Hamilton, that America's industry needed protection from the more industrially advanced England.
(d) had a moderate level of tariffs, compared with England, whose main purpose was to provide the federal government with revenues.
(d)
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With a nominal interest rate of 5% per year, the present discounted value of $100 to be received in 10 years is
A) $50.00. B) $61.39. C) $95.24. D) $150.00. E) $163.89.
The marginal tax rate is the total tax paid divided by the amount of taxable income
a. True b. False Indicate whether the statement is true or false