The Largest Increase in Peacetime Defense Spending in American History

question 62

Multiple Choice

The largest increase in peacetime defense spending in American history occurred under which president?

• A)Franklin Roosevelt
• B)Dwight Eisenhower
• C)Jimmy Carter
• D)Ronald Reagan
• E)Bill Clinton

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Definitions:

Laissez-Faire Economics

An economic philosophy of free-market capitalism that opposes government intervention.

Austrian-Born Economist

Refers to economists originating from Austria, particularly those associated with the Austrian School of Economics, known for emphasizing the importance of individual choice and spontaneous order in the economy.

Nazi Germany

The regime led by Adolf Hitler and the National Socialist German Workers' Party from 1933 to 1945, characterized by its totalitarian government and pursuit of aggressive expansion.

Soviet Union

A socialist state in Eurasia that existed from 1922 to 1991, officially known as the Union of Soviet Socialist Republics (USSR), and was a major world power politically and militarily.