Question

14. What were the THREE parts of the "American System" for economic development in the first han
the nineteenth century?
A. high tariffs
B. an income tax
C. a national bank
D. heavy military spending
E. federal infrastructure subsidies

Answer 1

Answer:

The correct options are:

A. high tariffs

C. a national bank

E. federal infrastructure subsidies

Explanation:

The American System can be described as an important economic plan that impacted the American Policy. The American System was brought up in the first half of the 19th century.

The main points of the American System included:

1) 20%-25% tax on imported goods so that the American Industry gets promoted and no foreign competition could occur with the nation's business.

2) The establishment of a national bank so that a single currency could be used and trading might become easier.

3) The improvement of the country's infrastructure so that trade and transport becomes easier.