There was alot of competion ... the soviet union actually ended up dropping out of the cold war because america had out spent them...they were trying to see how much better each other was in technological advances
<u>Problem of classical economics pointed by John Maynard keynes:</u>
He was complaining about economists who believed that unemployment would be reduced or eliminated after the recession if the market is not somehow stimulated or steered in right direction. He agreed that this strategy can work in long run, however, in short run, it would pose some problems due to people’s nature of hoarding money and banking preferences.
The classical economists believed that in the midst of a great depression and recession, the government should not do much and the economy would recover on its own which may take decades for such to happen.
Answer:
A. The automobile industry will experience job loss as manufacturers are more likely to relocate to other countries.
Explanation:
As automobile manufacturers use steel as an input, any high steel tariff raises their cost of producing automobiles in the U.S. They couldn't produce the same amount of automobiles for the same cost of producing and they couldn't change steel as an input for production. Looking to keep or low their cost of producing automobiles, manufacturers are likely to relocate to other countries, firing employees in the U.S. automobile industry.
The Spanish government decided to expand its lands in North America because they wanted more Catholics.