The State of the Union Address Is

question 36

Multiple Choice

The State of the Union address is

• A)required by a law passed by Congress in 1803 and renewed ever since.
• B)requested by the president,and comity demands that his or her request is always accepted.
• C)based on tradition but was discontinued during the Great Depression and World War II.
• D)mandated by the Constitution.

---

Definitions:

Break-even

The point at which cost or expenses and revenue are equal, resulting in neither profit nor loss.

Long-run Equilibrium

A state in which all factors of production and costs are variable, and firms are making neither excess profits nor losses.

Short-run Equilibrium

Short-run Equilibrium occurs in a market when the quantity supplied equals the quantity demanded at a specific price level, without considering changes in the long run.

Market Participants

Individuals or entities engaging in the buying, selling, or exchange of goods and services in a market.