When It Was Developed During the Jackson Administration,the Patronage System

question 49

Multiple Choice

When it was developed during the Jackson administration,the patronage system was designed to

• A)provide jobs to merit appointees.
• B)tie the administration more closely to the people it served.
• C)increase congressional control of the bureaucracy.
• D)increase judicial control of the bureaucracy.
• E)provide jobs to lawyers.

Recognize leading exports and imports of the United States and other countries, and the importance of service exports.

Understand the principles of absolute and comparative advantage as proposed by Adam Smith and David Ricardo.

Recognize the benefits of specialization and trading based on comparative advantage.

Identify how resource endowments influence a nation's trade patterns.

---

Definitions:

Security

A financial instrument that represents an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Financial Intermediaries

Institutions that facilitate the channeling of funds between savers and borrowers, by ensuring the flow of capital.

Pension Funds

Investment pools, typically of large size, established to manage and invest the retirement funds of employees, offering them income upon retirement.

Credit Unions

Member-owned financial cooperatives that provide the same services as banks but are typically nonprofit, aiming to serve their members rather than maximize profit.