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mart [117]
3 years ago
14

During times of economic growth, companies make _____ investments because they hope to _____. more, increase costs more, earn mo

re money less, pay less taxes
History
2 answers:
Umnica [9.8K]3 years ago
8 0
More, and earn more money.
anygoal [31]3 years ago
6 0

The correct answer is:

more, earn more

During times of economic growth, companies make <u>more</u> investments because they hope to <u>earn more money.</u>

Explanation:

Economic growth is an increase of wealth over a period of time in a country.  When a nation experiences an economic growth it means that the productivity and the market value has increased, <em>so companies invest more because it will bring them more profits. </em>


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How did the Tariff of 1828 continue to haunt Jackson's presidency?
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Answer:The Tariff of Abominations was the name outraged southerners gave to a tariff passed in 1828. Residents of the South believed the tax on imports was excessive and unfairly targeted their region of the country.

The tariff, which became law in the spring of 1828, set very high duties on goods imported into the United States. And by doing so it did create major economic problems for the South. As the South was not a manufacturing center, it had to either import finished goods from Europe (primarily Britain) or buy goods made in the North.

Adding insult to injury, the law had obviously been devised to protect manufacturers in the Northeast. With a protective tariff essentially creating artificially high prices, the consumers in the South found themselves at a severe disadvantage when buying products from either Northern or foreign manufacturers.

The 1828 tariff created a further problem for the South, as it reduced business with England. And that, in turn, made it more difficult for the English to afford cotton grown in the American South.

Intense feeling about the Tariff of Abominations prompted John C. Calhoun to anonymously write essays setting forth his theory of nullification, in which he forcefully advocated that states could ignore federal laws. Calhoun's protest against the federal government eventually led to the Nullification Crisis.

Background of the 1828 Tariff

The Tariff of 1828 was one of a series of protective tariffs passed in America. After the War of 1812, when English manufacturers began to flood the American market with cheap goods that undercut and threatened new American industry, the U.S. Congress responded by setting a tariff in 1816. Another tariff was passed in 1824.

Those tariffs were designed to be protective, meaning they were intended to drive up the price of imported goods and thereby protect American factories from British competition. And they became unpopular in some quarters because the tariffs were always promoted originally as being temporary measures. Yet, as new industries emerged, new tariffs always seemed necessary to protect them from foreign competition.

The 1828 tariff actually came into being as part of a complicated political strategy designed to cause problems for President John Quincy Adams. Supporters of Andrew Jackson hated Adams following his victory in the "Corrupt Bargain" election of 1824.

The Jackson people drew up legislation with very high tariffs on imports necessary to both the North and South, on the assumption that the bill would not pass. And the president, it was assumed, would be blamed for the failure to pass the tariff bill. And that would cost him among his supporters in the Northeast.

The strategy backfired when the tariff bill passed in Congress on May 11, 1828. President John Quincy Adams signed it into law. Adams believed the tariff was a good idea and signed it though he realized it could hurt him politically in the upcoming election of 1828.

The new tariff imposed high import duties on iron, molasses, distilled spirits, flax, and various finished goods. The law was instantly unpopular, with people in different regions disliking parts of it, but the opposition was greatest in the South.

John C. Calhoun's Opposition to the Tariff of Abominations

The intense southern opposition to the 1828 tariff was led by John C. Calhoun, a dominating political figure from South Carolina. Calhoun had grown up on the frontier of the late 1700s, yet he had been educated at Yale College in Connecticut and also received legal training in New England.

In national politics, Calhoun had emerged, by the mid-1820s, as an eloquent and dedicated advocate for the South (and also for the institution of slavery, upon which the economy of the South depended).

Calhoun's plans to run for president had been thwarted by lack of support in 1824, and he wound up running for vice president with John Quincy Adams. So in 1828, Calhoun was actually the vice president of the man who signed the hated tariff into law.

Calhoun Published a Strong Protest Against the Tariff

In late 1828 Calhoun wrote an essay titled "South Carolina Exposition and Protest," which was anonymously published. In his essay Calhoun criticized the concept of a protective tariff, arguing that tariffs should only be used to raise revenue, not to artificially boost business in certain regions of the nation. And Calhoun called South Carolinians "serfs of the system," detailing how they were forced to pay higher prices for necessities.

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The oil boom in Texas brought about dramatic changes in the economy during the period of late 1800s and early 1900s.

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  • The oil boom of which was also called gusher age brought about several economic changes.
  • The discovery of huge oil reserves bought rapid industrialization, with the turn of century urbanization was seen with new corporations and new infrastructures being built to keep pace with the ushering oil business.
  • After the end of World War 2, the state was industrialized, amongst which Houston was the one to be most benefited in this boom, having the largest reserves of natural oil. This period brought significant changes in the commercial makeover of Texas.
  • During the end of 18th centuy and beginning of early 19th century, started with the Oil era in Texas, having opened the first oil field in Corsicana in 1894 .
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