which of the following statements is true of the underwood tariff? course hero

by Uriel Heidenreich 6 min read

Who benefited from the high tariffs of the late 19th century?

The latter half of the nineteenth century had witnessed VERY HIGH tariff policies to the benefit of large DOMESTIC corporations able to increase their prices. As part of his reelection campaign, Cleveland sought to change this. Identify the few cases in which women were allowed to enter saloons.

What did the federal government demand from the war industries Quizlet?

-The federal government demanded the war industries provide equal treatment in the hiring of minority workers. In 1939, Congress passed the Neutrality Act of 1939 to allow Britain and France to send their own ships to the United States to bring back American military supplies.

What did the Fair Trade Act of 1890 do Quizlet?

This passed in 1890 to prohibit companies from establishing monopolies in their industries. It imposed a system of competitive tests for the attainment of federal jobs. It protected American businesses from foreign competitors and encouraged domestic companies to raise their prices.

What were the effects of Increasing the Cost of Imports on the economy?

Increasing the cost of imports led to higher prices for raw materials and manufactured goods. Decline in consumer purchasing power and spending. Business owners did not share their large profits by raising workers' wages, making workers less and less able to buy goods. Drop in the gross domestic product.

Why did European countries REDUCE their purchases of U.S. goods?

As European countries began to recover from the financial ruin caused by the First World War, they REDUCED their purchases of U.S. goods. Additionally, debts owed by European countries to America prompted U.S. banks to LEND such nations huge amounts of money, which only INCREASED their overall debt.

How many people were unemployed in the 1930s?

False. -Unemployment was a huge hardship in the early years of the Great Depression. The number of jobless Americans soared from 4 million in 1930 to 12 million in 1932. The video below describes the scope of the Great Depression and traces some of the factors that led to this dramatic rise in unemployment.

Why did the Fed reduce the money supply?

After the stock market crash of 1929 , the Federal Reserve reduced the nation's money supply in an attempt to prevent inflation in consumer prices and restore confidence in the economy. This policy shrank the nation's money supply by one-third between 1929 and 1932.