This topic contains a solution. Click here to go to the answer

Author Question: The antebellum period was characterized by many changes in tariff rates. What best describes the ... (Read 164 times)

krzymel

  • Hero Member
  • *****
  • Posts: 548
The antebellum period was characterized by many changes in tariff rates. What best describes the effect of removing a tariff on foreign cotton textiles?
 a. The total supply curve of textiles would shift back.
  b. The price of both foreign-made and domestic-made textiles would decrease.
  c. The price of foreign-made textiles would decrease and the price of domestic-made textiles would increase.
  d. The total (foreign and domestically produced. quantity of textiles purchased in the US would decrease.
  e. The real income of textile consumers would decrease.

Question 2

During the three decades immediately following World War II,
 a. conservative forces successfully blocked any expansion of New Deal-type programs.
  b. the prevailing liberal ideology led to the passage of legislation that increased Social Security benefits, created Medicare, and increased the minimum wage.
  c. disillusionment with government led to deregulation of airlines and other industries.
  d. most policy makers and the general public rejected Keynesian policies.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

anyusername12131

  • Sr. Member
  • ****
  • Posts: 327
Answer to Question 1

b. The price of both foreign-made and domestic-made textiles would decrease. (Note: This is the exact opposite of the problem in the Economic Insight).

Answer to Question 2

b. the prevailing liberal ideology led to the passage of legislation that increased Social Security benefits, created Medicare, and increased the minimum wage.





 

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

For a complete list of videos, visit our video library