According to the statistics, the distribution of money income:
a. fluctuated widely since 1947.
b. changed significantly in favor of the bottom 5 percent.
c. has not changed greatly since 1947.
d. has not changed greatly since 1929.
c
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All but one of the following statements is used to justify protectionism. Which statement is not used to justify protectionism?
A) Free trade reduces employment by driving domestic firms out of business. B) Free trade leads to higher prices for imported goods. C) Trade restrictions are necessary to protect new firms until they can gain experience and become more productive. D) A country should not rely on other countries for goods that are critical to its national defense.
The last trade bill to set overall tariff rates for the United States was the Smoot-Hawley Tariff of 1930
Indicate whether the statement is true or false