When It Came to the Major Federalist Economic Programs, Thomas

question 24

Multiple Choice

When it came to the major Federalist economic programs, Thomas Jefferson as president

• A) left practically all of them intact.
• B) quickly dismantled them.
• C) slowly undid everything the Federalists achieved.
• D) attacked only the Bank of the United States.
• E) vetoed any new tariffs.

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Definitions:

Behavioral Economics

A field of study that examines how psychological, cognitive, emotional, cultural, and social factors affect economic decisions and the consequences of those decisions.

Neoclassical Economics

An approach in economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.

Behavioral Economics

A branch of economics focused on understanding how a range of factors, including psychological, cognitive, emotional, cultural, and social elements, influence the economic decision-making processes of both individuals and institutions.

Hedonic Treadmill

A concept suggesting that people consistently return to a relatively stable level of happiness despite major positive or negative events or life changes.