In What Way Does the Period Between Bill Clinton's Election

question 68

Essay

In what way does the period between Bill Clinton's election in 1992 and Barack Obama's reelection in 2012 suggest a postliberal era in American politics? To what extent has the conservative resurgence of the Reagan years survived and in what ways has it changed?
Answer Key

---

Definitions:

Market Price

The current price at which a good or service can be bought or sold in a particular market.

Firm

An organization, especially one involved in business or commerce, that produces and sells goods or services.

Economic Profit

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs.

Profit-Maximizing Output

The level of production at which a company achieves the highest possible profit, where marginal cost equals marginal revenue.