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Trade Deficits
The economic condition that occurs when a country imports more goods and services than it exports, resulting in a negative balance of trade.
Smoot-Hawley Tariff
A U.S. law enacted in 1930, which raised tariffs on over 20,000 imported goods to record levels, leading to a significant decrease in international trade.
Great Depression
A severe worldwide economic depression that took place mostly during the 1930s, starting in the United States following the stock market crash of 1929.
Revenue-Raising
Activities or policies implemented to increase the financial income of an organization or government.
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