Question : 21) In the United States during the Great Depression, tariffs : 1244937

 

 

21) In the United States during the Great Depression, tariffs were ________ than they were following World War II, and ________ than they are today.

A) higher; higher

B) higher; lower

C) lower; higher

D) lower; lower

 

22) The Smoot-Hawley Tariff

A) lowered U.S. tariffs by 50 percent following World War II.

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) raised average tariff rates by over 50 percent in the United States in 1930.

 

23) In 1930, the U.S. government attempted to help domestic firms that were harmed by the Great Depression by passing the Smoot-Hawley Tariff. In response to this tariff, other countries ________ and international trade ________.

A) lowered their tariffs; thrived

B) raised their tariffs; collapsed

C) eliminated tariffs; began to grow outside of the United States

D) doubled their tariffs; became unrestricted

24) In 1995, the General Agreement on Tariffs and Trade (GATT), which was established in 1948, was replaced by the World Trade Organization (WTO). Why did members of the GATT push for the establishment of the WTO?

A) The GATT agreement only covered trade in goods. The WTO was created to cover trade in goods, services and intellectual property.

B) The charter of the GATT had run out and a new organization was needed to promote international trade.

C) The creation of the European Union (EU) made the GATT obsolete. The WTO was formed to regulate trade between the EU and other nations.

D) By 1995 tariffs had been eliminated. The WTO was created to reduce non-tariff trade barriers.

 

25) The World Trade Organization (WTO) promotes foreign trade and investment, or globalization. In recent years opposition to globalization has led to violent protests at meetings of the WTO. All of the following are reasons for these anti-globalization protests except

A) protestors believe the WTO favors the interests of high-income countries at the expense of lower-income countries.

B) protesters believe that tariffs are needed to protect domestic firms from foreign competition.

C) protesters believe that free trade destroys the distinctive cultures of many countries.

D) protesters object to the loss of intellectual property (such as software programs and movies) that results from foreign trade and investment.

 

26) Prior to the 1998 World Cup, France banned the use of all soccer balls made by child workers. Several economists criticized the ban. Which of the following is an argument these economists used to justify the use of child labor in some countries?

A) Soccer balls are easy to carry and workers were given soccer balls to play with.

B) Child workers were allowed to attend school during the periods they worked.

C) Child workers were given gloves to protect their hands while they stitched soccer balls.

D) Some of the alternatives to stitching soccer balls include begging and prostitution.

27) Protectionism is the use of ________ to protect domestic firms from foreign competition.

A) military force

B) trade barriers

C) cheap labor

D) dumping

 

28) Your roommate Hansen argues that American producers cannot compete with foreign producers because wages are lower in foreign countries than in the United States. Hansen

A) is incorrect. Free trade raises living standards by increasing economic efficiency.

B) is right in asserting the need to protect high wages if the United States wishes to maintain its high standard of living.

C) is correct in arguing that the high wages of U.S. workers make it impossible to compete with workers in low-wage countries.

D) is advancing the anti-dumping argument for protectionism.

 

29) Many economists ________ protectionism because it ________ consumers and ________ jobs in domestic industries that use protected products.

A) support; benefits; creates

B) criticize; causes losses to; eliminates

C) support; lowers prices for; raises wages for

D) criticize; unfairly rewards; relocates

 

30) All but one of the following statements is used to justify protectionism. Which statement is not used to justify protectionism?

A) Free trade leads to higher prices for imported goods.

B) Free trade reduces employment by driving domestic firms out of business.

C) A country should not rely on other countries for goods that are critical to its national defense.

D) Trade restrictions are necessary to protect new firms until they can gain experience and become more productive.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more