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What Is Structure? What Is Interaction? What Are the Effects

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What is structure? What is interaction? What are the effects of having too little or too much of either?


Definitions:

Smoot-Hawley

Refers to the Smoot-Hawley Tariff Act of 1930, a U.S. law that raised import tariffs on thousands of goods, contributing to the severity of the Great Depression.

International Trade

The exchange of goods, services, and capital across international borders or territories.

Tariffs

Taxes imposed on imported goods to increase their cost, typically used to protect domestic industries or earn revenue for the government.

Money Supply

The aggregate value of all money assets within an economy at a given time.

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