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Describe the three categories of tariffs,and explain how the Smoot-Hawley Act of 1930 influenced tariffs in the United States.
Capital Account
A national account that shows the net change in asset ownership for a nation, reflecting movements of financial capital and tangible capital into and out of the country.
Current Account
A component of a country's balance of payments that measures the trade of goods and services, along with earnings on foreign investments minus payments made to foreign investors.
International Monetary Reserves
Assets held by a country's central bank to back its national currency and provide financial and economic stability.
Remittances
Payments by immigrants to family members and others located in the immigrants’ home countries.
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