Why Was the Upgrade of the Diplomats of the Leading

question 4

Multiple Choice

Why was the upgrade of the diplomats of the leading European powers from ministers to ambassadors in Washington D.C. in 1892 somewhat belated?

• A) The United States already held a trade surplus with Europe in 1877.
• B) By that time, U.S. output per capita was already only a little below that of Great Britain.
• C) The United States had already joined the Western Alliance of Britain and France as a major military power.

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Definitions:

Capital Stock

The total amount of shares that a company can issue as authorized by its corporate charter, representing ownership in the company.

Redeemed Stock

Shares that have been bought back or repaid by the issuing company.

Financial Leverage

Financial leverage is the use of borrowed funds to increase the potential return of an investment, magnifying both potential gains and potential losses.