--%>

Explain the cause of Trade barriers

Explain the cause of Trade barriers?

E

Expert

Verified

Trade barriers can cause a “trade war,” in which all nations retaliate with trade barriers of their own.  The Smoot-Hawley Tariff Act of 1930 was a classic example of this.  It prompted other nations to increase tariffs and global trade fell as well as U.S. output.

   Related Questions in Business Economics

  • Q : Who define Theory of Moral Sentiments

    The argument which slicing off one’s pinkie would be extra bothersome to which person than the loss of millions of his brethren was made within A Theory of Moral Sentiments (1755) through: (1) Adam Smith. (2) David Ricardo. (3) Theophrastus Phil

  • Q : Tax revenues to reduce rate of inflation

    Explain how government might manipulate its expenditures and tax revenues to reduce rate of inflation?

  • Q : Explain about the successful speculation

    Successful speculation tends to: (1) generate inflationary pressure. (2) assist stabilize relative prices. (3) reduce the incomes of the eventual producers of goods. (4) make relative prices more volatile. (5) increase the risk born through the eventu

  • Q : Next Generation Manufacturing Strategy

    This Assignment assesses the following module Learning Outcomes:1. Describe current production concepts and techniques in formulating a manufacturing strategy.2. Discuss the development and implementation of manufacturing strategies in the busi

  • Q : Loathed monopolization and viewed of

    Adam Smith and most of the typical economists who followed instantly in his footsteps: (i) viewed monopoly as no big problem. (ii) encouraged monopolies due to their research and development abilities. (iii) thought monopoly power was a communist plot

  • Q : Help How is a shift in demand reflected

    How is a shift in demand reflected in a demand equation? How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?

  • Q : Distinction between Component cost and

    Describe briefly Distinction between the term Component cost and Composite cost?

  • Q : Super committee failure Question: Some

    Question: Some commentators have argued that the failure of the "Super committee" is good thing for the economy?  Do you agree? Answer: The Super committe

  • Q : Regulate prices to ensure against

    Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu

  • Q : Explain the foundation of economics

    Explain the foundation of economics where society’s material wants are unlimited?