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It allowed the US farmer to keep making money at the expense of the US taxpayer. Keeping prices artificialy low in order to protect votes leads to the protection of ineficiency which is ultimately paid for by the consumer.
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Which of the following explains why farmers in the early US benefited when there were no protective tariffs?
Farmers could buy goods from overseas for lower prices.
Why did the US put tariffs on forgein goods?
Throughout US history and also on a world wide basis, tariffs are used most often to protect homeland industries from foreign competition. The US did this allot and in the antebellum days, tariffs were used to protect the US's manufacturing revolution safe by imposing tariffs on imported goods.
Why did big businesses support high tariffs?
Big business support tariffs because they want to limit competition. If it is expensive for foreign companies to sell goods in the US, businesses in the US can control the market.
Summsrize the arguments for and against protective tariffs?
One positive thing about protective tariffs is that they protect jobs associated with manufacturing and distributing domestic goods and services. They are also beneficial to fledging companies who cannot compete with established foreign enterprises. One argument against the tariffs is that is artificially increases prices. Another argument is that it can lead to targeted countries imposing their own tariffs.
What impact did John D Rockefeller have on the US?
it was a negative impact
What regions of US was often opposed to protective tariffs in the early 1800's?
The South, mainly South Carolina, was opposed to protective tariffs because they would sell most of their cotton to England.
What major event led to the end of nearly all protective tariffs in the US?
the great depression
One major way in which the US has practiced economic nationalism has been to?
Implement protective tariffs to help American Industry.
Why did the US Civil War start?
Because of sectionalism which was caused by secession, states' rights, protective tariffs, Lincoln's election, and slavery.
Which of the following explains why farmers in the early US benefited when there were no protective tariffs?
Farmers could buy goods from overseas for lower prices.
Which region of the US favored tariffs?
The South was against it. The tariff was aimed at protecting northern manufacturing. The South traded agricultural products like cotton for manufactured goods which the tariff made more expensive.
How do high tariffs damage an economy?
In certain situations, throughout the 19th and 20th centuries, tariffs have always been a subject of nations' economic progress. Tariffs area tax on imported products and the US government has control over tariffs. When tariffs are abused it forces consumers to pay more for imported goods. This often times helps domestic companies which because of tariffs forces people to buy from them.There was a period of time in 19th century US, where the Southern populations was forced to buy goods from Northern factories, at a higher price than would otherwise be except for these "protective" tariffs. It also was a strain on the entire economy.
Was the south in favor of tariffs?
No; the South depended on exporting cotton and US tariffs would have invited tariffs in the countries to which they exported.
How did the articled of confederation contribute to economic problems of the us in the late 1700s?
Under the Articles of Confederation, the US Congress did not have the power to impact the economy. It could not enforce nationwide laws, or enact measures such as tariffs.
How did the articles of confederation contribute to the economic problems of the US in the late 1700?
Under the Articles of Confederation, the US Congress did not have the power to impact the economy. It could not enforce nationwide laws, or enact measures such as tariffs.
How did the article of confederation contribute to the economic problems of the US in the late 1700s?
Under the Articles of Confederation, the US Congress did not have the power to impact the economy. It could not enforce nationwide laws, or enact measures such as tariffs.
How did the Articles of Confederation contribute to the economic problems of the US in the late 1700s?
Under the Articles of Confederation, the US Congress did not have the power to impact the economy. It could not enforce nationwide laws, or enact measures such as tariffs.
