What was the 'beggar thy neighbor' policy, and what was its effect on the global economy?
Understand the Problem
The question is asking about the implications of the 'beggar thy neighbor' policy and its effects on the global economy. It provides multiple choice options about the nature of this policy and its impact on economic conditions.
Answer
A policy of imposing tariffs and trade barriers, which ultimately worsened the Great Depression.
The final answer is: A policy of imposing tariffs and trade barriers, which ultimately worsened the Great Depression.
Answer for screen readers
The final answer is: A policy of imposing tariffs and trade barriers, which ultimately worsened the Great Depression.
More Information
Beggar-thy-neighbor policies were protectionist measures that countries used during the Great Depression. They aimed to improve domestic economies but exacerbated global economic problems by reducing international trade.
Tips
Avoid confusing protectionist policies with free trade policies. Understand the historical context in which beggar-thy-neighbor policies were used.
Sources
- Beggar-Thy-Neighbor: Meaning and History in Forex - Investopedia - investopedia.com
- Beggar thy neighbour - Wikipedia - en.wikipedia.org
- Beggar Thy Neighbor Policy - Econowmics - econowmics.com
AI-generated content may contain errors. Please verify critical information
