Answer:
Their economy was based on trading, lumbering,fishing, whaling, shipping, fur trading (forest animals) and ship building. ... The Middle Colonies also practiced trade like New England, but typically they were trading raw materials for manufactured items.
Explanation:
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Answer:
The outcomes of the Smoot-Hawley Tariff started from the introduction of the tariff that raised taxes on many imported goods to the closure of trade markets. The chronological order is given below:
Explanation:
<em>1) The Smoot-Hawley Tariff raised taxes on thousands of imports.</em>
<em>2) The tariff angered America's foreign trade partners.</em>
<em>3) America's trade partners raised taxes on American goods, shrinking international trade.</em>
<em>4) Trade markets closed and the Great Depression worsened.</em>
The Smoot-Hawley Tariff or the Tariff Act of 1930 was a law that applied protectionist trade policies in the US. This raised the US tariffs on over 20,000 imported goods and they were the second-highest in the history of the United States. It was done to provide revenue, encourage the industries of the United States, protect American labour, regulate commerce with foreign countries and more. But this didn't go down well with other countries. In retaliation, they raised taxes on American goods which reduced American exports and imports by 67% and intensified the Great Depression.
Answer:
a plan of action designed to achieve a long-term or overall aim
The saving account will have 575.125 USD after 2 years.
Explanation:
Usually, when people want to save money in a bank, they get a particular compound interest rate. This is of benefit for both sides, as the bank has the money at disposal and uses them, while the saver gets certain amount of money because of it. The interest rates can vary greatly, and in this case we have 7.5%, which is a very large interest rate in modern times.
If the saver has 500 USD at the beginning, and leaves the money in the bank for two years, he/she will get solid amount of compound interest for it. In order to get to the result we simply need to add 7.5% of the amount to it, and for the next year to add 7.5% on the amount that has accumulated from the previous year:
(500/100)x7.5 = 537.5
(537.5/100)x7.5 = 575.125
We get a result of 575.125, meaning that the saver has managed to gain 75.125 in the two years that the 500 USD have been in the bank.
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