One important unintended consequence of the Smoot-Hawley Tariff Act was to:
a. lessen the severity of the Great Depression by increasing exports.
b. provide the federal government with an effective tool for exercising monetary policy.
c. decrease the efficiency of domestic automobile production.
d. cause other countries to retaliate and thus leading to a decline in exports.
e. increase the U.S. government budget deficit by $15 million.
d
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An oligopoly is characterized by
a. few firms, which have control over market price b. many firms and some barriers to entry c. a large number of firms and no barriers to entry d. a single firm and no barriers to entry e. a single firm and significant barriers to entry
We can estimate that if a country grows at 7 percent per year, it will double its real GDP per capita in:
A. 2 years. B. 20 years. C. 35 years. D. 10 years.