During Its First Year, the Long Parliament

question 69

Multiple Choice

During its first year, the Long Parliament

• A)used the Star Chamber court to try its enemies.
• B)declared that taxes could not be levied without the consent of Parliament.
• C)executed the king.
• D)ruled that Parliament had to meet once every ten years.
• E)forbade the writ of habeas corpus.

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Definitions:

Real Output

The measure of goods and services produced by an economy, adjusted for inflation or deflation, showing true growth or contraction.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, an indicator of inflation or deflation.

Policy Credibility

Describes the degree to which economic agents trust and believe in the effectiveness of a government's economic policies, influencing the policies' success.

Time-inconsistency

A situation where a decision-maker's preferences change over time, leading to a plan or policy that is not followed through as initially intended.