The One Positive Result of the Annapolis Convention Was a Resolution

question 29

Multiple Choice

The one positive result of the Annapolis Convention was a resolution calling for

• A)a declaration of independence from England.
• B)a boycott of tea, linens, and other goods from England.
• C)ratification of the new Constitution of the United States.
• D)a national day of prayer.
• E)a later meeting in Philadelphia to reform the Articles of Confederation.

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Definitions:

Keynesian Theory

An economic theory stating that government intervention through fiscal policy is necessary to manage the cyclical nature of economies and adjust to demand shocks.

Real GDP

An inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, providing a more accurate picture of economic growth than nominal GDP.

Potential Real GDP

The maximum amount of goods and services that an economy can produce when it is fully employing its resources with efficiency, without causing inflation.

Prices

The amount of money required to purchase a good or service, often influenced by supply and demand dynamics.