In the 1930s Clair Wilcox of Swarthmore College organized a petition by economists that any measure which
Question:
a. Why did economists oppose the tariff?
b. Demonstrate the effect of the tariff on the price of goods.
c. How would the tariff help the economy if other countries did not institute a retaliatory tariff?
d. What would be the effect on the macroeconomy it other countries did institute a retaliatory tariff?
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