QUESTION 43 1 points Save An The Corn Laws represented the last battle between mercantilist and free traders. Which of the following options best describes the purpose of these laws and the role played by David Ricardo: "The Corn Laws" were mercantilist laws aiming for self-sufficiency in food. It protected British farmers by keeping foreign grain out of the country with high tariffs. David Ricardo showed that the Corn Laws would lower food prices, and as food costs were the most important determinant of real wages, wages would have to fall, decreasing 01. costs in industry and increasing industrial profits. For a small country like Britain, continued prosperity depended on industrial, not agricultural, growth. Ricardo suggested that the even though the Corn Laws were a protectionist policy, its effect on industry was positive, so they should not be repealed. "The Corn Laws" were free-trade laws aiming for self-sufficiency in food. It favored British farmers by allowing technical improvement in agriculture. David Ricardo showed that the Corn Laws would lower food prices, and as O 2. food costs were the most important determinant of real wages, wages would fall, lowering costs in industry and increasing industrial profits. For a small country like Britain, continued prosperity depended on industrial, and Ricardo suggested that the Corn Laws should be adopted. "The Corn Laws" were mercantilist laws aiming for self-sufficiency in food. It protected British farmers by keeping foreign grain out of the country with high tariffs. David Ricardo showed that the Corn Laws would raise food prices, 3 and as food costs were the most important determinant of real wages, wages would have to rise, raising costs in industry and squeezing industrial profits. For a small country like Britain, continued prosperity depended on industrial, not agricultural, growth. Ricardo suggested that the Corn Laws should be repealed. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit