Which of the Following Statements About the 1940 Presidential Election

question 39

Multiple Choice

Which of the following statements about the 1940 presidential election is true?

• A) Franklin Roosevelt named a Republican as his vice-presidential running mate in the name of national unity.
• B) Franklin Roosevelt became the first sitting president to lose a reelection bid in the midst of a national crisis.
• C) Republican Thomas Dewey defeated Franklin Roosevelt in a landslide.
• D) Franklin Roosevelt followed precedent and declined to run for a third term.
• E) Franklin Roosevelt became the only president to run for and win a third term.

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Definitions:

Bilateral Monopoly

A bilateral monopoly occurs when a market consists of only one supplier (monopoly) and one buyer (monopsony), leading to unique negotiations and outcomes concerning prices and quantity.

Monopsonistic Employer

A market situation where a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers.

Minimum-Wage Legislation

Laws set by governments to establish the lowest amount that employers can pay their workers per hour.

Deflationary

Pertaining to or causing a decrease in the general price level of goods and services, often leading to increased purchasing power of money.