Which of the Following Was a Result of Hamilton's Excise

question 62

Multiple Choice

Which of the following was a result of Hamilton's excise tax on whiskey?

• A) New conflicts erupted in the Ohio Valley between settlers and Native Americans because Native Americans depended on the commodity.
• B) Federalists in New York City boycotted whiskey because they resented farmers in
• Pennsylvania who now paid lower taxes.
• C) As president, George Washington refused to support or enforce the tax, declaring it
• Unconstitutional and coming to the aid of those affected.
• D) Frontier farmers formed a rebellion because they had little cash, and grain alcohol was their
• Most valuable commodity.
• E) Frontier farmers rejoiced because the tax would cause the sales of their main, more valuable
• Crops such as vegetables to increase.

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Definitions:

Differentiated Products

Differentiated Products are products that are similar but distinguished from each other through branding, design, quality, or other features.

Monopolistic Competitor

A market structure in which many firms offer products or services that are similar, but not perfect substitutes, allowing for some degree of market power and price setting.

Significant Barriers

Major obstacles or impediments that prevent new competitors from easily entering an industry or area of business.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, resulting in surplus gain.