Which of the following helped fuel economic growth by encouraging people to buy American goods?

A. Monopolies
B. Patents
C. Protective tariffs
D. Laissez-faire

Protective Tariffs are policies that seek to encourage individuals to buy domestic goods, in this case American goods (C). However, the impact on economic development and growth is mixed in that it can help fuel development of important competing industries but can also harm the economy as a whole and also create higher equilibrium prices for consumers.

Answered by Gibbs | 2024-06-10

Protective tariffs are taxes on imported goods that make them more expensive, encouraging consumers to buy American goods instead, which fuels economic growth. Historically, tariffs have supported domestic industries by reducing foreign competition. The correct answer is C: Protective tariffs.
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Answered by Gibbs | 2024-10-25