When total production is greater than total expenditures, __________ is produced than households want to buy, which leads to __________ in inventory, which signals firms that they have __________, which causes firms to cut back production
A) less; decreases; underproduced
B) less; increases; overproduced
C) more; decreases; underproduced
D) more; increases; overproduced
D
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During the Federal Bank Holiday ordered by President Roosevelt and the week that followed it,
a. new supplies of gold were distributed to the banks. b. a national monetary commission was set up. c. the banks were inspected. d. actions were taken to take the US off the gold standard e. Both c and d are correct.
The General Agreement on Tariffs and Trade (GATT) was established in
a. 1870 to protect U.S. industries and decrease world trade b. 1921 to manage legal and accounting requirements for U.S. tariffs and quotas c. 1947 to reduce trade restrictions among 23 countries d. 1973 to increase trade restrictions, after OPEC significantly raised oil prices e. 1990 to create a common market