The Platt Amendment

question 97

Multiple Choice

The Platt Amendment:

• A) recognized Cuban autonomy.
• B) granted independence to Puerto Rico.
• C) limited the U.S. presence in the Philippines.
• D) authorized the United States to intervene militarily in Cuba.
• E) declared Cuba a colony of the United States.

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Definitions:

Equilibrium

A state where market supply and demand balance each other, and as a result, prices become stable.

Consumer's Money Income

The total amount of income a consumer has available to spend and save after taxes have been deducted.

Budget Line

A graphical representation of all possible combinations of two goods which can be purchased with a given budget at specific prices.

Equilibrium Position

A situation in which the supply and demand in the market are equal, leading to stable prices.