Write an essay on the role of Congress in U.S. trade policy since 1930
What will be an ideal response?
Congress has authority to set trade policy. However, the Smoot-Hawley tariff, which came about because of logrolling in Congress, has lead Congress to cede some of its powers to the President on a temporary basis. Recently, Congress has sought to reimpose itself by encouraging individual industries to seek protection under a variety of measures, and by mandating more automatic policy actions on the part of the President.
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Which of the following would not be in this quarter's real GDP?
A. a new house that sold today B. a used truck that was sold to a business C. a bookstore adding to books in its warehouse D. a book manufactured in the U.S. and then sold in Mexico
The short-run Phillips curve is ________, and the long-run Phillips curve is ________
A) downward sloping; downward sloping B) downward sloping; vertical C) vertical; downward sloping D) vertical; upward sloping E) upward sloping; vertical