The Declaratory Act

question 101

Multiple Choice

The Declaratory Act

• A)repealed the Stamp Act.
• B)declared that the colonies were in a state of insurrection.
• C)asserted Parliament's absolute right to legislate for the colonies.
• D)nullified the charters of Massachusetts and Rhode Island.
• E)established new taxes on the colonists.

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Definitions:

GDP

Gross Domestic Product, a measure of a country's economic output and performance, representing the total value of all goods and services produced over a specific time period.

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to adjust GDP from nominal to real terms.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced in terms of constant prices.

NDP

Net Domestic Product, which is the total value of all goods and services produced within a country in a specific time period, minus depreciation.