Question

What was one economic impact of the Emergency Tariff of 1921?
(1 point)
• a decrease in the price of imports from other countries
• an increase in American purchasing power
• a decrease in interest rates
• an increase in American wages

Answer 1

One economic impact of the Emergency Tariff of 1921 was **a decrease in the price of imports from other countries**. The tariff aimed to protect American industries by raising the cost of imported goods, which, in effect, pushed consumers to buy domestically produced products. However, it led to higher prices for domestic goods as well. Therefore, though it was intended to support American industries, it resulted in mixed outcomes, including some reductions in the ability for imported goods to compete on price.