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:

Circadian Rhythm

The roughly 24-hour cycle in the physiological processes of living beings, influencing sleep-wake patterns, hormone release, and other bodily functions.

Diurnal

Pertaining to or active during the day, as opposed to nocturnal.

Nocturnal

Pertaining to or active during the night.