The Motive Behind the High Tariffs Imposed by Nations on Imports

question 65

Multiple Choice

The motive behind the high tariffs imposed by nations on imports of manufactured goods, prior to World War II, was to:

• A)deter any possible attempts to promote communism.
• B)protect domestic industries from foreign competition.
• C)prevent the occurrence of the Great Depression.
• D)safeguard patents, copyrights, and trademarks.
• E)promote the trade of services over the trade of manufactured goods.

---

Definitions:

Pricing Practices

The methods and strategies businesses use to set and adjust prices for their products or services.

Standardize

To make uniform or consistent by adhering to a set standard or protocol, often to ensure quality or interoperability.

Trademarked Fishing Gear

Fishing equipment that is legally protected against unauthorized use because it bears a distinctive mark, symbol, or name owned by the creator.

Administrative Expenses

Costs associated with the general administration of a business, such as salaries of senior executives and costs of general services.