A Major Weakness of the Articles of Confederation Was a Lack

question 43

Multiple Choice

A major weakness of the Articles of Confederation was a lack of which of the following?

• A) A bicameral legislature
• B) A national system of courts
• C) Power to raise funds for the militia
• D) Power to tax exports
• E) State-supported currencies

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Definitions:

Price Level

A measure of the average prices of goods and services in an economy at a specific time, indicating the cost of living or inflation rate.

Real Output

The total quantity of goods and services produced in an economy, adjusted for price changes or inflation, indicating the true growth in an economy’s production.

The General Theory of Employment, Interest, and Money

A seminal work by John Maynard Keynes that laid the foundation for Keynesian economics and the study of macroeconomics.

Long-Run Aggregate Supply

Long-Run Aggregate Supply (LRAS) represents an economy's total production capacity when all factors of production are fully utilized, assuming constant technology and resource availability.