In 1930, the U.S. government attempted to help domestic firms that were harmed by the Great Depression by
A) passing the North American Free Trade Agreement (NAFTA).
B) establishing the General Agreement on Tariffs and Trade (GATT).
C) establishing the World Trade Organization (WTO).
D) passing the Smoot-Hawley Tariff.
D
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Which of the following observations concerning the absolute definition of poverty is true?
a. It is based on average income. b. It is an optimistic definition. c. It is not arbitrary in nature. d. It is a cultural definition.
Fiona's hourly wage decreases from $10 to $8 . Which of the following describes a consequence of the decrease in Fiona's wage?
a. The opportunity cost of Fiona's leisure time has increased. b. Fiona may choose to work more hours due to the decrease in her wage. c. Fiona may choose to work fewer hours due to the decrease in her wage. d. Both b and c are correct.