Identify and State the Historical Significance of the Following

question 14

Short Answer

Identify and state the historical significance of the following:
-Louis XIV

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Definitions:

Taxes

Mandatory economic impositions or alternative kinds of charges placed on taxpayers by governmental bodies to finance state expenditure and diverse public costs.

Real GDP

The measure of the value of all goods and services produced within a country over a specified period of time, adjusted for inflation.

Government Purchases

All goods and services bought by the federal, state, and local governments.

National Debt

The total amount of money that a country's government has borrowed and not yet repaid.