The Twentieth Century Brought About Significant Changes in the Presidency

question 59

Multiple Choice

The twentieth century brought about significant changes in the presidency as evidenced by Theodore Roosevelt, Woodrow Wilson, and Franklin Roosevelt, just in the first half of the century. The "imperial presidency" is often noted as having taken root during this era. What is meant by this term?

• A) The president becomes a dictator and takes total control of the government.
• B) The president assumes powers to act independently of Congress under certain circumstances and to make significant decisions related to national security.
• C) The office of president comes to be viewed as royalty with all its trappings.
• D) The sons of presidents also assume the position, thus creating a de facto aristocracy.
• E) The president becomes the uncontested leader of the free world.

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Definitions:

After-Tax Discount Rate

The discount rate used in capital budgeting that takes into account the effects of taxes on the project's cash flows.

Income Tax Rate

The portion of an individual's or corporation's income that goes to taxes.

Straight-Line Depreciation

A technique for segmenting the cost of a material asset over its life in even annual segments.

After-Tax Discount Rate

The discount rate used in financial calculations that reflects the net cost of capital after accounting for the effects of taxes.