When Bill Clinton Assumed the Presidency in 1993,he

question 55

Multiple Choice

When Bill Clinton assumed the presidency in 1993,he

• A) enjoyed a powerful mandate from the American voters.
• B) benefited from strong and resilient Democratic majorities in Congress.
• C) had few perceived political weaknesses.
• D) faced an adversarial Republican majority in Congress.
• E) brought a highly ambitious domestic political agenda.

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Definitions:

Arthur Laffer

An economist known for the Laffer Curve, which theorizes there exists an optimal tax rate that maximizes government revenue without discouraging economic activity.

Macroeconomic Theory

A branch of economics that studies the behavior and performance of an economy as a whole, including issues like inflation, unemployment, and national income.

Supply-Sider

An advocate or supporter of supply-side economics, a school of economic thought that emphasizes the benefits of making goods and services more available to consumers.

Expansionary Monetary Policy

To fight recessions, the Federal Reserve increases the money supply.