Question
After the stock market crashed, Congress put tariffs on imported goods. What was the effect of these tariffs?(1 point)
Responses
The tariffs allowed American businesses to recover.
The tariffs allowed American businesses to recover.
The tariffs caused risky fluctuations in the market.
The tariffs caused risky fluctuations in the market.
The tariffs created an escalating trade war.
The tariffs created an escalating trade war.
The tariffs led to an overproduction of food.
Responses
The tariffs allowed American businesses to recover.
The tariffs allowed American businesses to recover.
The tariffs caused risky fluctuations in the market.
The tariffs caused risky fluctuations in the market.
The tariffs created an escalating trade war.
The tariffs created an escalating trade war.
The tariffs led to an overproduction of food.
Answers
GPT-4o mini
The correct response is: **The tariffs created an escalating trade war.**
Tariffs imposed on imported goods can lead to retaliatory tariffs from trading partners, resulting in a trade war that can negatively impact international trade and the global economy.
Tariffs imposed on imported goods can lead to retaliatory tariffs from trading partners, resulting in a trade war that can negatively impact international trade and the global economy.