The Electoral College Is

question 67

Multiple Choice

The electoral college is

• A)an expression of direct democracy.
• B)designed to select the president of the United States.
• C)the institution that originally selected U.S.senators.
• D)the federal organization that oversees the operation of all elections held in the
• United States.

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Definitions:

Purchasing Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach to estimate the exchange rate at which two currencies will be at parity, or have the same purchasing power.

Nominal Exchange Rate

The nominal exchange rate is the rate at which one country's currency can be exchanged for another country's currency without adjustment for inflation.

Price Level

A measure of the average prices of goods and services in an economy over a period of time.

Purchasing Power

The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.