The (George W.) "Bush Doctrine

question 3

Multiple Choice

The (George W.) "Bush Doctrine"

• A)called for tax cuts to stimulate the economy.
• B)challenged the Soviet Union's dominance in Eastern Europe.
• C)asserted U.S. authority to wage preemptive war.
• D)supported domestic legislation to enhance surveillance of suspected terrorists.
• E)called for U.S. dominance in Latin America.

---

Definitions:

Equilibrium Price

Equilibrium Price is the market price at which the quantity of goods supplied equals the quantity of goods demanded.

Equilibrium Quantity

The quantity of goods or services sold where the supply and demand curves intersect, indicating a balance between supply and demand.

Trade

The exchange of goods or services between individuals, firms, or countries.

Consumer Surplus

The discrepancy between what consumers are prepared and able to spend on a product or service and the actual amount they end up paying.