MATCHING Match Each Person with One of the Descriptions Below

question 24

Multiple Choice

MATCHING
Match each person with one of the descriptions below.
-Alan Greenspan

• A)was an Alaska governor and darling of the Tea Party
• B)carried Florida by 537 votes in 2000
• C)became House Speaker as a result of the 2006 election
• D)was the independent counsel who prosecuted Bill Clinton
• E)finished third in the 1996 presidential elections
• F)authored the Contract with America
• G)was appointed secretary of state by Barack Obama
• H)was the Federal Reserve Board chairman
• I)was appointed secretary of defense by Barack Obama
• J)was a central figure in a major sex scandal

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Definitions:

Elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in price.

Price Ceiling

A legally imposed maximum price on goods or services, intended to keep prices affordable for consumers.

Shortage/Surplus

A surplus is the opposite of a shortage, occurring when the supply of a product or service exceeds its demand in a market.

Price Floor

A government- or authority-imposed minimum price set above the equilibrium price, preventing the market price from falling below a certain level.