The Smoot-Hawley Act Introduced

question 30

Multiple Choice

The Smoot-Hawley Act introduced

• A) opportunities for expanding U.S. foreign trade.
• B) a framework promoting international free trade.
• C) revenue tariffs as a major source of U.S. government revenues.
• D) the highest tariffs set by the United States in the last 80 years.

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Definitions:

Income Uncertainty

Refers to the unpredictability in the amount of money earned from one's job or investment, leading to financial instability.

New Business

An enterprise recently established to provide goods or services to a market.

Successful Entrepreneur

An individual who has effectively identified a market opportunity and organized the resources necessary to capitalize on it, resulting in a profitable and sustainable business venture.

Characteristics

Qualities or features that distinguish an object, person, or phenomenon from others, defining its nature and behavior.