The McKinley Tariff of 1890

question 18

Multiple Choice

The McKinley Tariff of 1890

• A)established the first income tax.
• B)had a reform measure that reduced the price of American manufactured products.
• C)was vetoed by President Benjamin Harrison.
• D)was responsible for the decisive Republican victory in the election of 1892.
• E)had a protective tax that raised import duties to an average of 50 percent.

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Definitions:

Call Option

is a financial contract that gives the holder the right, but not the obligation, to buy an asset at a specified price within a specific time period.

Strike Price

The set price at which the holder of an options contract can buy or sell the underlying asset.

Convertible Bond

A type of bond that can be converted into a predetermined amount of the issuing company's equity at certain times during its life, usually at the discretion of the bondholder.

Conversion Price

The predetermined price at which convertible security, such as a convertible bond or preferred stock, can be converted into a specified number of shares of common stock.