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2 cards from this section. Quick, good the night before a test.
What is protectionism?
Think about how countries might try to safeguard their own businesses.
What do tariffs do?
They make foreign goods more expensive for consumers.
What was a major effect of protectionism during the Great Depression?
Consider the economic policies that countries were implementing.
True or False: Tariffs were primarily intended to increase international commerce.
Think about the purpose of tariffs.
Evaluate how the Smoot-Hawley Tariff Act of 1930 exemplifies the failures of protectionism during the Great Depression.
Consider both direct effects on trade and the international response.
Propose alternative strategies that countries could have employed instead of implementing protectionist policies during the Great Depression.
Think broadly about economic policies that encourage trade rather than restrict it.
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