American Foreign Policy During the 1920s

question 109

Multiple Choice

American foreign policy during the 1920s

• A) reflected the close ties between government and business.
• B) expanded on Woodrow Wilson's goal of internationalism.
• C) included the lowering of tariffs.
• D) discouraged American business investment abroad.
• E) included a complete retreat from military intervention.

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Definitions:

Comparative Advantage

The ability of a country, company, or individual to produce a good or service at a lower opportunity cost than competitors.

Autarky

An economic policy or situation in which a country is self-sufficient and does not engage in international trade.

Cattle

Large domesticated bovines raised for their meat, milk, or hides, but in economic context, it broadly relates to agricultural commodities.

Opportunity Cost

The expense incurred by not selecting the second-best choice while deciding or preferring one option to another.