Whose Presidency Marked the Appearance of Centralized Federalism, Where the National

question 7

Multiple Choice

Whose presidency marked the appearance of centralized federalism, where the national government imposed its own policy preferences on state and local governments?

• A) Abraham Lincoln
• B) Ulysses Grant
• C) Theodore Roosevelt
• D) Franklin Roosevelt
• E) Lyndon Johnson

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Definitions:

Short-Run Aggregate Supply

The total supply of goods and services that firms in an economy want to sell at a given price level in the short term.

Spending Multiplier

A concept in economics that represents how changes in autonomous spending lead to changes in total economic output.

Budget Surplus

A situation where a government's revenues exceed its expenditures within a specific period.

Equilibrium Output

The level of output at which the quantity of goods produced equals the quantity of goods consumed, often resulting in market stability.