Question

These were one of Wilson's first accomplishments because by reducing taxes on goods helped promote healthy and competitive trade, lower consumer prices and support continued economic growth with fair business practices in the United States.

a) True
b) False

Answer 1

The correct answer is option a) True.

Step-by-step explanation:

President Wilson's accomplishment mentioned in the question refers to the passage of the Underwood Tariff Act in 1913, which lowered tariff rates and reduced taxes on goods in the United States. By doing so, Wilson aimed to promote healthy and competitive trade, lower consumer prices, and support continued economic growth with fair business practices.

For example, the Underwood Tariff Act lowered tariff rates by approximately 10%, marking the first significant reduction since before the Civil War. This reduction in tariffs made foreign goods more affordable for American consumers and encouraged international trade. As a result, it stimulated economic growth and promoted fair competition among businesses in the United States.