List and describe the two areas of positive economics. What ...

[corkyiscool3328]

List and describe the two areas of positive economics.
 
  What will be an ideal response?

Question 2

In 1930, the U.S. government attempted to help domestic firms that were harmed by the Great Depression by passing the Smoot-Hawley Tariff. In response to this tariff, other countries ________ and international trade ________.
 
  A) lowered their tariffs; thrived
  B) raised their tariffs; collapsed
  C) doubled their tariffs; became unrestricted
  D) eliminated tariffs; began to grow outside of the United States

[raenoj]

Answer to Question 1

Descriptive economics involves the compilation of data that describe economic phenomena and facts. Economic theory involves a statement or a set of related statements about cause and effect (action and reaction).

Answer to Question 2

B

[corkyiscool3328]

Wow, this really help

[milbourne11]

Excellent