Andrew Jackson's Veto of the Recharter Bill for the Bank

question 49

Multiple Choice

Andrew Jackson's veto of the recharter bill for the Bank of the United States was

• A) the first presidential veto.
• B) a major expansion of presidential power.
• C) immediately attacked by Kentucky Senator Henry Clay.
• D) overridden by a two-thirds vote in Congress.
• E) accompanied by a temperate veto message.

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Definitions:

Edgeworth Box

A diagram used in economics to show the distribution of resources and the potential gains from trade between two individuals in a pure exchange economy.

Contract Curve

The contract curve represents a set of efficient allocations in the Edgeworth Box, where no participant could be made better off without making another participant worse off.

Pareto Optimal

A condition or situation in which it is impossible to make one party better off without making another party worse off, reflecting an optimal distribution of resources.

Initial Endowment

In economic theory, refers to the initial quantities of various assets or goods that an individual or entity possesses.