The Following Questions Refer to the Excerpt Below

question 36

Multiple Choice

The following questions refer to the excerpt below.
"Tonight I ask for your prayers for all those who grieve,for the children whose worlds have been shattered,for all whose sense of safety and security has been threatened.And I pray they will be comforted by a power greater than any of us spoken through the ages in Psalm 23: "Even though I walk through the valley of the shadow of death,I fear no evil,for You are with me." This is a day when all Americans from every walk of life unite in our resolve for justice and peace.America has stood down enemies before,and we will do so this time. None of us will ever forget this day,yet we go forward to defend freedom and all that is good and just in our world."
President George Bush,Speech to the Nation,September 11,2001
-The ideas expressed by President Bush resulted in which of the following?

• A) The U.S. was forced to redefine its foreign policy.
• B) The U.S. became increasingly isolationist.
• C) The U.S. ceased all military interventions abroad.
• D) Congress revoked all civil liberties during the period.

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Definitions:

Accounting Profits

The financial gains of a company calculated by subtracting total expenses from total revenues according to standard accounting practices.

Economic Profits

The financial difference between what a business earns in total revenue and what it spends, considering both explicit and indirect costs.

Implicit Costs

The opportunity costs involved in using resources that a firm already owns, for which it does not make a direct payment.

Accounting Profits

The total revenue of a business minus the explicit costs associated with producing goods or services, not accounting for implicit costs.