JACKSONIAN DEMOCRACY 1825 1850
AGE OF THE COMMON MAN
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tariffs made American products better.
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Tariffs gave more money to the government.
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Tariffs caused more people to demand (buy) American products than European products.
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Tariffs would increase the price of materials in the West.
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Detailed explanation-1: -Tariffs hurt consumers because it increases the price of imported goods. Because an importer has to pay a tax in the form of tariffs on the goods that they are importing, they pass this increased cost onto consumers in the form of higher prices.
Detailed explanation-2: -The tariff sought to protect northern and western agricultural products from competition with foreign imports; however, the resulting tax on foreign goods would raise the cost of living in the South and would cut into the profits of New England’s industrialists.
Detailed explanation-3: -Tariffs Raise Prices and Reduce Economic Growth Historical evidence shows tariffs raise prices and reduce available quantities of goods and services for U.S. businesses and consumers, which results in lower income, reduced employment, and lower economic output.
Detailed explanation-4: -By making foreign-produced goods more expensive, tariffs can make domestically produced alternatives seem more attractive. Some products made in countries with fewer regulations can harm consumers, such as a product coated in lead-based paint. Tariffs can make these products so expensive that consumers won’t buy them.