During the past 70 years, the peak average tariff rate in the United States stemmed from the
A) creation of GATT in the middle of the 1940s.
B) Kennedy Administration in the early 1960s.
C) Uruguay round of GATT in the 1980s.
D) Smoot-Hawley Tariff Act in the early 1930s.
E) Clinton-Bush tariff of 2000-2001.
D
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________ money refers to something that is used as money but that is otherwise worthless and typically has the backing of the government or a central bank
A) Fiat B) Federal C) Commodity D) Representative
Suppose policy makers overestimate the natural rate of unemployment. In situations like these, policy makers will likely implement policies that result in
A) less unemployment than necessary. B) an unemployment rate that is "too low." C) a lower inflation rate than necessary. D) a steadily increasing inflation rate. E) overly expansionary monetary and fiscal policy.