To Justify American Intervention in the Venezuela Boundary Dispute with Britain

question 41

Multiple Choice

To justify American intervention in the Venezuela boundary dispute with Britain, Secretary of State Richard Olney invoked the

• A) Platt Amendment.
• B) Open Door policy.
• C) Monroe Doctrine.
• D) Foraker Act.
• E) Gentlemen's Agreement.

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Definitions:

Phillips Curve

A concept suggesting an inverse relationship between the rate of inflation and the rate of unemployment within an economy.

Desired Expenditures

The amount of spending households, firms, and the government wish to make, usually influenced by economic conditions and policies.

Inflation

A persistent upsurge in the average cost of goods and services across an economy over time.

Unemployment

The situation when people who are willing to work at current wage rates cannot find jobs.