QUESTIONS ON THE TEXT
1. Explain the gain from exchange.
2. What is meant by the tariff? Distinguish between a revenue and a protective tariff.
3. State the tariff problem.
4. Outline briefly the tariff history of the United States.
5. Why is tariff practically always a compromise?
6. Discuss the home market argument.
7. What can be said for and against the wages argument?
8. What is the vested interests argument?
9. What effect did the World War have upon the anti-dumping argument?
10. What is the military or self-sufficiency argument?
11. How did the war affect the infant industries argument?
12. Why was there a trend toward protection after the World War?
13. What is the nature and purpose of the United States Tariff Commission?