How Did the United States React to the Soviet Union's

question 4

Multiple Choice

How did the United States react to the Soviet Union's successful launch of Sputnik in 1957?

• A) It cut funding for education and diverted it to the military.
• B) It passed legislation providing support for students in math,foreign languages,science,and technology.
• C) It initiated covert plans for the CIA to infiltrate the Soviet missile agency and steal its technology.
• D) It initiated a plan for a satellite defense system to protect the United States and Western Europe from new Soviet weapons.

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Definitions:

Barriers to Entry

are obstacles that make it difficult for new competitors to enter an industry, including high startup costs, strict regulations, and established brand loyalty.

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical.

Monopolies

Market structures characterized by a single seller controlling a large portion of the market and the lack of viable competition.

Long-run Equilibrium

A state in which all factors of production and market forces are in balance, with no external pressures prompting change.