Which of the following resulted from the Smoot-Hawley trade bill of 1930?
A) The stock market began a steady recovery from the crash of October 1929.
B) Imports decreased, while exports increased, resulting in an overall increase in GDP and tariff revenues.
C) The higher tariff rates increased federal revenues and led to a balanced budget the year after passage of the bill.
D) The unemployment rate, which stood at less than 8 percent when the bill was passed, soon soared to double-digit levels.
D) The unemployment rate, which stood at less than 8 percent when the bill was passed, soon soared to double-digit levels.
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Which standard states that "the owner is entitled to receive 'what a willing buyer would pay in cash to a willing seller' at the time of the taking"?
A) the comparable sales method B) just compensation C) fair market value D) the equitable transactions cost method
What happens to the demand curves of the existing firms when new firms enter into a monopolistic competitive market?
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. Economic theory and economic policy are synonymous. 2. Your decision to attend college was a microeconomics choice. 3. Goods directly used by individuals and households are known as capital goods. 4. The relationship between the price of a book and the number of volumes purchased would be an example of microeconomics.
What was the per capital income level for the United States in 2011?
a. $28,100 b. $38,100 c. $48,100 d. $58,000