USA HISTORY

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THE GREAT DEPRESSION 1929 1940

THE GREAT DEPRESSION

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Congress decided to raise tariffs on goods imported from other countries. This raised the price of imported goods to that American-made products were ____
A
more expensive
B
less expensive
C
the same price as foreign-made products
D
free for everyone
Explanation: 

Detailed explanation-1: -raised tariffs, in an effort to collect more revenue for the federal government.

Detailed explanation-2: -A tariff is a tax on goods and services imported into a country. It is typically used to increase the price of imported goods, making them more expensive than domestic goods and services, thus protecting domestic industries.

Detailed explanation-3: -A tariff is a tax levied on an imported good with the intent to limit the volume of foreign imports, protect domestic employment, reduce competition among domestic industries, and increase government revenue.

Detailed explanation-4: -How Do Tariffs Affect Prices? Tariffs increase the prices of imported goods. Because of this, domestic producers are not forced to reduce their prices from increased competition, and domestic consumers are left paying higher prices as a result.

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