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Author Question: List and describe the two areas of positive economics. What will be an ideal ... (Read 62 times)

corkyiscool3328

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on: Jun 29, 2018
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


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raenoj

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Reply #1 on: Jun 29, 2018
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

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

AmberC1996

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Reply 3 on: Yesterday
Excellent

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