The General Agreement on Tariffs and Trade (GATT) was initiated in response to
a. in increase in exports of low-priced goods from developing countries to developed countries.
b. the replacement of manufacturing jobs with service jobs in developed countries.
c. economic dislocations caused by the North American Free Trade Agreement (NAFTA) in the 1990s.
d. high tariffs imposed during the Great Depression of the 1930s.
d
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What happens when you withdraw cash from a bank?
A) The bank's reserves are reduced. B) The bank's reserves are increased. C) The bank's reserves are not affected. D) The bank's total reserves remain unchanged but the composition of required reserves and excess reserves change.
Critically evaluate the following statement made in favor of the sub-prime loan bailout of mortgage companies who made high interest rate loans to marginal credit-worthy customers
"The government should do everything within its powers to prop up ailing lenders and homeowners, just as they've done in the past with other troubled industries, from airlines to savings and loans"