What Were Confraternities, and Why Were They Important

question 46

Multiple Choice

What were confraternities, and why were they important?

• A) They were organizations of artisans that provided a way to protest injustices in the apprentice system.
• B) They were secret societies comprised of farmers that helped bring wealth to the countryside.
• C) They were organizations that managed to help many Europeans assimilate to the culture of natives in the Americas.
• D) They were religious groups that fought to stop the spread of the society known as Freemasons in Great Britain.
• E) They were political groups comprised of elites that developed legislation that put an end the traditional structure of urban trade.

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Definitions:

Protectionist Argument

The rationale for implementing trade barriers, such as tariffs and quotas, to protect domestic industries from foreign competition.

Dumping

Selling goods in a foreign market at a price below the cost of production or below the price in the home market, often to gain market share.

American Firms

Companies that are based in the United States and subject to U.S. laws and economic policies.

General Agreement on Tariffs and Trade (GATT)

The international agreement reached in 1947 in which 23 nations agreed to eliminate import quotas, negotiate reductions in tariff rates, and give each other equal and nondiscriminatory treatment. It now includes most nations and has become the World Trade Organization.