Which of the Following Statements Regarding the 2008 Election Is

question 25

Multiple Choice

Which of the following statements regarding the 2008 election is true?

• A) Democrats gained a majority in the Texas Senate for the second straight election.
• B) Obama lost four of the state's five most populous counties.
• C) Democrats lost seats in the Texas House of Representatives for the third straight general election cycle.
• D) Democrats won a majority of countywide offices in Harris County for the first time in more than 20 years.
• E) There was no measurable difference from past elections because Texas is a solid red state.

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Definitions:

Interest Rate Effect

The impact that changes in the interest rate have on consumer spending and investment due to the cost of borrowing money.

Real Wealth Effect

The change in consumption levels caused by a change in purchasing power, often due to inflation or deflation.

Aggregate Demand Curve

The Aggregate Demand Curve represents the total quantity of all goods and services demanded by the economy at different price levels.

Equilibrium Real National Output

The level of output where aggregate supply equals aggregate demand in an economy, adjusted for inflation.