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Which of the Following Statements Is True

question 11

Multiple Choice

Which of the following statements is true?


Definitions:

Panic Of 1837

Beginning of major economic depression lasting about six years; touched off by a British financial crisis and made worse by falling cotton prices, credit and currency problems, and speculation in land, canals, and railroads.

Depression

A severe and prolonged downturn in economic activity characterized by high unemployment, decreased GDP, and reduced consumer spending.

Nullification

The theory that states have the right to invalidate any federal law deemed unconstitutional with respect to the United States Constitution.

Federal Government

Refers to the national government of the United States, which operates according to a system of federalism that divides power between the national government and the states.

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