Question

In the 1920s the Fordney-McCumber Tariff __________ tariff rates and the Hawley-Smoot Tariff __________ tariff rates, so that by1930the tariff rates had been substantially __________ from the opening of the decade.

a. raised; lowered; lowered
b. lowered; raised; raised
c. raised; raised; raised
d. lowered; lowered; lowered
e. raised; lowered; raised

Answer 1

In the 1920s, tariff rates in the U.S. were raised first by the Fordney-McCumber Tariff and then further increased by the Hawley-Smoot Tariff, leading to a significant rise in tariffs by 1930.

Step-by-step explanation:

In the 1920s, the Fordney-McCumber Tariff raised tariff rates, followed by the Hawley-Smoot Tariff which further raised tariff rates, resulting in substantially higher tariffs by 1930 compared to the beginning of the decade. The correct answer to the fill-in-the-blank question is: a. raised; raised; raised.

The Smoot-Hawley Tariff Act of 1930 significantly increased tariffs with the intention of protecting American farmers and industries from foreign competition. However, it led to other countries enacting retaliatory tariffs, causing a decline in international trade. This was particularly detrimental as the United States experienced job losses and an overall economic downturn during the Great Depression. The high tariffs of the Smoot-Hawley Act represented an isolationist and protectionist policy but ultimately had counterproductive effects on both the U.S. and global economies.

Answer 2

The Fordney-McCumber Tariff in the 1920s raised tariff rates, while the Hawley-Smoot Tariff raised them even further. However, by 1930, tariff rates had been substantially lowered.

Step-by-step explanation:

The correct answer is a. raised; lowered; lowered.

In the 1920s, the Fordney-McCumber Tariff raised tariff rates. However, the Hawley-Smoot Tariff increased tariff rates even further. By 1930, the tariff rates had been substantially lowered compared to the start of the decade due to the negative effects of protectionist policies. Tariff Act of 1930 was an isolationist and protectionist measure that significantly increased tariff rates by 20 percent on over twenty thousand types of imported goods, with the intent to protect American farmers and industries from foreign competition. However, this backfired as other countries responded with their own high tariffs on U.S. goods, leading to a severe decline in international trade.