During the Great Depression, Many Industrial Countries Tried Protecting Domestic

question 216

Multiple Choice

During the Great Depression, many industrial countries tried protecting domestic jobs by raising tariffs. Economic theory would suggest that the result would be

• A) success for only the countries that raised tariffs first.
• B) success for firms that had a comparative advantage in manufactured goods rather than agricultural goods.
• C) reduced exports and volume of trade for everyone.
• D) increased incomes in the countries that pursued this policy.

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Definitions:

Pacifier

A rubber, plastic, or silicone nipple given to an infant to suck upon, though it is not attached to a bottle or intended to deliver food.

Pleasurable

Causing a feeling of satisfaction, enjoyment, or pleasure.

Piaget

A Swiss psychologist known for his pioneering work in developmental psychology and his theory of cognitive development in children.

Tertiary Circular Reaction

A stage in Piaget's theory of cognitive development where infants explore their environment and learn through trial and error with repeated actions.