The Nullification Crisis Started by South Carolina Over the Tariff

question 50

Multiple Choice

The nullification crisis started by South Carolina over the Tariff of 1828 ended when

• A) Andrew Jackson used the court system to force compliance.
• B) the federal army crushed all resistance.
• C) Congress used the provisions of the Force Bill.
• D) Congress passed the compromise Tariff of 1833.
• E) South Carolina took over the collection of tariffs.

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Definitions:

Liquidation Market

A marketplace where assets are sold quickly, often at a discount, typically due to a company's insolvency or urgent liquidation needs.

Secondary Market

This is a market where investors purchase securities or assets from other investors, rather than from issuing companies directly.

Dealer Market

A financial market mechanism in which transactions are made through dealers who buy and sell securities for their own accounts.

OTC Market

Over-The-Counter Market, where securities are traded directly between parties without a central exchange, often used for stocks not listed on formal exchanges.