Question

In: Economics

Economic History Please Type: Which economic sectors tended to support a higher tariff in the United...

Economic History

Please Type:

Which economic sectors tended to support a higher tariff in the United States? Why? Which regions were these industries prevalent?

What was the Homestead Act and what was its importance for U.S. Economic History?

What were the major costs and benefits to membership in the British Empire for the American colonies?

Solutions

Expert Solution

sectors tended to support a higer tariff in united states:

The Energy Sector:

Steel and aluminum are very important to America’s energy sector. They are used to construct oil pipelines, to build solar panels, to distribute electric power- you name it! President Trump has proposed an additional tax on aluminum and steel imports from China, which has already caused the country’s energy PD to hike significantly. Projects in the energy sector will keep getting pricier, which in turn will force consumers to pay higher prices for clean energy.

Automobiles:

American automakers sell most of their products in the Chinese market. In 2018, as a countermeasure, the Chinese government raised tariffs from 15% to 40% for all automobiles entering its market from the US. This hasn’t affected the Chinese so much, bearing in mind that the Asian nation has a thriving automobile sector that can satisfy the local market.

Food and Agribusiness:

The Chinese government cut off imports of corn, soybeans, nuts, lobster, and other farm products from the US. The American farmers are now struggling to find a market for their produce, which has, in turn, affected their productivity. Tractor manufacturers and farm input sellers are also feeling the pinch. Processed food companies in the US might be forced to lay off workers and close some of their processing plants if things remain as they are.

answer2)

Homestead Act:

The Homestead Act of 1862 was one of the most significant and enduring events in the westward expansion of the United States. Signed into law by President Abraham Lincoln on May 20, 1862, the Homestead Act encouraged Western migration by providing settlers 160 acres of public land. In exchange, homesteaders paid a small filing fee and were required to complete five years of continuous residence before receiving ownership of the land. After six months of residency, homesteaders also had the option of purchasing the land from the government for $1.25 per acre. The Homestead Act led to the distribution of 80 million acres of public land by 1900.

the purpose of America’s government was "to elevate the condition of men, to lift artificial burdens from all shoulders and to give everyone an unfettered start and a fair chance in the race of life." He followed through with the passage of the Homestead Act, which remained active for 124 years until it was repealed in 1976, and resulted in 10 percent of U.S. land—or 270 million acres—to be claimed and settled.the act was worthy of consideration, and that the wild lands of the country should be distributed so that every man should have the means and opportunity of benefiting his condition.

Thousands of women took advantage of the Homestead Act (1862) that offered free land in the American Great Plains. Women who were single, widowed, divorced, or deserted were eligible to acquire 160 acres of federal land in their own name.

The Homestead Act helped to speed up westward expansion in the United States. Several thousand claims were made by the end of the Civil War, and eventually 2 million homesteaders would help develop and cultivate the American West. The act made it possible for small farmers and freed slaves to pursue the American Dream.

The Homestead Act was responsible for the establishment of approximately 105,000 farms which helped establish Nebraska as an agricultural leader. Many homesteaders who relinquished their claims before proving up settled in and helped build many of our state's most successful towns and cities. By allowing women, African-Americans, and immigrants of nearly every ethnic background to claim land, the Homestead Act was directly responsible for much of Nebraska's current diversity, which is very visible in many of the state's communities.

Nebraska was once known as part of the "Great American Desert," but through homesteading it became an extremely inhabitable and agriculturally productive land. The Homestead Act led to a rapid increase in Nebraska's population after the Civil War, which helped lead Nebraska to become the first new state admitted to the Union after the end of the war.

answer3)from the membership to british empire ,the american colonies specially named as thirteen colonies started growing geographically and politically,the the thirteen colonies that were established during the 17th and early 18th centuries in what is now a part of the eastern United States.   Economic opportunity, especially in the form of readily available land, encouraged early marriages and large families. Despite heavy losses as a result of disease and hardship, the colonists multiplied. Their numbers were also greatly increased by continuing immigration from Great Britain and from Europe west of the Elbe River. In Britain and continental Europe the colonies were looked upon as a land of promise.

The Thirteen Colonies had a high degree of self-governance and active local elections, and they resisted London's demands for more control.

The British were left with large debts following the French and Indian War, so British leaders decided to increase taxation and control of the Thirteen Colonies.They imposed several new taxes, beginning with the Sugar Act of 1764. Later acts included the Currency Act of 1764, the Stamp Act of 1765, and the Townshend Acts of 1767.the colonies formed bodies of elected representatives known as Provincial Congresses, and Colonists began to boycott imported British merchandise


Related Solutions

US Economic History Please Type: What does the trend of slave prices tell us about the...
US Economic History Please Type: What does the trend of slave prices tell us about the trend of the profitability of slavery through 1860? What happened to the American birth rate during the Great Depression? Why? Table 2.6 includes a list of different worker characteristics that would add or reduce the length of the indenture contract. What was one of these characteristics and would this lengthen or reduce the length of the contract? Why? What was free banking? Name one...
Four themes of "An economic history of the United States": long‐run economic growth distributional issues economic...
Four themes of "An economic history of the United States": long‐run economic growth distributional issues economic fluctuations the scale and scope of government in the economy. How would you apply it to US past, present, future?
Why do Saudi Arabia and the United Arab Emirates rank higher on the economic than on...
Why do Saudi Arabia and the United Arab Emirates rank higher on the economic than on the human welfare dimension?
Please answer the following as detailed as possible: (1) A history of Taxation in the United...
Please answer the following as detailed as possible: (1) A history of Taxation in the United States including the recent IRC revision (2) Taxation in the European Union (3) Your opinion on the impact of the revision of the 2017 U.S. tax code (4) Current status of Global taxation considering the facts of the case study and other accounting literature.
Please answer the following: How do the economic systems of Russia, the United States, the United...
Please answer the following: How do the economic systems of Russia, the United States, the United Kingdom vary? How do political policies, property rights, and public choice system in Russia, the United States, the United Kingdom relate or differ? Any help is appreciated, I always give a thumbs up too, thank you!
Is the quality of democracy generally higher in Federalist systems than in Unitary ones? Please support...
Is the quality of democracy generally higher in Federalist systems than in Unitary ones? Please support your answer.
Please explain how Comprehensive economic development strategy 2017 is effective in supporting key sectors and addressing...
Please explain how Comprehensive economic development strategy 2017 is effective in supporting key sectors and addressing local opportunities/threats in New Haven
How did the United States mobilize economic resources and promote popular support for the war effort?...
How did the United States mobilize economic resources and promote popular support for the war effort? How were these efforts received by the American people?
How did the United States mobilize economic resources and promote popular support for the war effort?...
How did the United States mobilize economic resources and promote popular support for the war effort? How were these efforts received by the American people?
Which one is the best? Type I error of Type II error? Support your choice as...
Which one is the best? Type I error of Type II error? Support your choice as an industrial engineer
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT