The Annapolis Convention

question 35

Multiple Choice

The Annapolis convention

• A)produced several amendments to the Articles of Confederation.
• B)was convened to fix problems that arose with the United States Constitution.
• C)officially ratified the Bill of Rights.
• D)was attended by less than half the thirteen states.
• E)was a crucial step that led to the United States declaring independence from Britain.

---

Definitions:

Time Preference

An individual's preference for receiving goods or services sooner rather than later.

Capital Goods

Long-term physical assets used in the production of goods or services, such as machinery and buildings.

Current Consumption

The total amount of goods and services consumed at the present time, as opposed to savings for future consumption.

Time Preference

The inclination of individuals to prefer goods and services sooner rather than later.