Why Was the 1824 Presidential Election Unique

question 61

Multiple Choice

Why was the 1824 presidential election unique?

• A) It was the first election involving party politics.
• B) John Quincy Adams was elected president by the House of Representatives.
• C) John Quincy Adams won over 75% of the popular vote.
• D) Large-scale fraud and deception plagued the election.
• E) The Senate had to select the winner after no candidate won over half the electoral vote.

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Definitions:

Marginal Cost

The cost implicated in generating an added unit of a product or service.

Efficient Allocation

The distribution of resources in a way that maximizes the net benefit received by an economy.

Allocative Efficiency

A state of the economy where resources are apportioned in a way that maximizes the overall benefit to society.

Productive Efficiency

A state where an economy or entity cannot produce more of one good without producing less of another, utilizing all resources in the best possible way without waste.