736779
Description
Flashcards by melgallagher, updated more than 1 year ago
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Created by melgallagher
over 10 years ago
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| Question | Answer |
| What are tariffs? | Taxes placed on imported goods. |
| What was the Fordney-McCumber tariff and why was it made? | Republicans wanted to out compete foreign goods so put large tariffs on imports. They ranged from 40-400%. |
| What is protectionism? | US goods were cheaper than foreign made goods. |
| How many times were tariffs raised in the 1920's? | 32. This was good for American firms in the short term then hurt them later when other countries retaliated. |
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