Author Question: In the United States, a buy American act was passed in 1933 to create larger markets for domestic ... (Read 54 times)

Awilson837 · **on:** Jun 30, 2018

In the United States, a buy American act was passed in 1933 to create larger markets for domestic goods.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Politicians often argue for tariff increases in order to reduce the size of a balance of trade deficit. If tariffs are increased, the long-run effect is most likely to be:
a. a decrease in both U.S. imports and exports.
b. an increase in both U.S. imports and exports.
c. an decrease in U.S. imports, and an increase in U.S. exports.
d. an increase in U.S. imports, and a decrease in U.S. exports.