In reaction to the passage of the Smoot-Hawley Tariff, Canada as well as many other U.S. trading partners
A) refused to export any products to the United States.
B) eliminated tariffs on U.S. imports.
C) refused to import any products from the United States.
D) enacted large increases in tariffs on U.S. imports.
D
You might also like to view...
Total cost falls when marginal cost is ________, and total cost rises when marginal cost is ________
A) negative; positive B) positive; negative C) zero; negative D) zero; positive
In late 2007, the Fed began a series of cuts in the federal funds rate. Because the core inflation rate was about two percent, the most likely reason for these interest rate cuts was
A) to increase the real interest rate. B) to avoid a recession. C) to encourage households to save more money. D) to reduce the natural unemployment rate. E) to raise the price of the dollar in the foreign exchange market.