The motive behind the high tariffs imposed by nations on imports of manufactured goods, prior to World War II, was to:
A. deter any possible attempts to promote communism.
B. protect domestic industries from foreign competition.
C. prevent the occurrence of the Great Depression.
D. safeguard patents, copyrights, and trademarks.
E. promote the trade of services over the trade of manufactured goods.
B
During the 1920s and 30s many of the world's nation-states erected formidable barriers to international trade and foreign direct investment. Many of the barriers to international trade took the form of high tariffs on imports of manufactured goods. The typical aim of such tariffs was to protect domestic industries from foreign competition.
You might also like to view...
The price at which a dealer will purchase a bond is referred to as the _____ price.
A. asked B. face C. call D. put E. bid
Advances in communications and transportation technology have changed the internationalization tendencies of firms by ________
A) establishing a cultural presence in a foreign market prior to establishing a facility B) providing accessible information about a product to customers but at a significantly higher cost C) focusing primarily on the need for local intermediaries to sell products in foreign markets D) reducing the risk and difficulty of doing business in markets with unfamiliar cultures