The Smoot-Hawley Tariff
A) raised average tariff rates by over 50 percent in the United States in 1930.
B) was passed by the U.S. Congress following the Civil War as a means of increasing government revenue.
C) was passed by the U.S. Congress upon a recommendation made by the General Agreement on Tariffs and Trade (GATT) in 1948.
D) lowered U.S. tariffs by 50 percent following World War II.
A
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Refer to Figure 14.2. Other things equal, an increase in the expected price of an important natural resource would best be represented by a movement from
A) point A to point B. B) point B to point A. C) point B to point C. D) point A to point C.
The National Monetary Commission
A) was created by Congress to study the setting up of a central bank. B) authorizes open market operations. C) oversees nationally chartered banks. D) chooses Federal Reserve district bank presidents.