The Contemporary Western World, 1970 - Present 3 4/25/10

A budget deficit refers to a situation where the government's spending exceeds its revenues. This means that the government is spending more money than it is earning through taxes and other sources of income. Budget deficits can occur due to various reasons such as increased government spending, economic downturns, or tax cuts. Budget deficits can have significant implications for the economy, as they can lead to increased borrowing, higher interest rates, and inflation.

Impeachment refers to the process of charging a public official with misconduct or wrongdoing while in office. It is a formal accusation that can lead to the removal of the official from their position. In the given list of terms, "impeachment" is the only one that directly relates to charges of misconduct. The other terms, such as EEC, budget deficit, euro, and Thatcherism, do not specifically pertain to accusations of wrongdoing.

The correct answer is euro. The euro is a common currency established by the EU (European Union). It is used by 19 out of the 27 EU member countries. The euro was introduced in 1999 as an electronic currency for banking and financial transactions, and euro banknotes and coins were introduced in 2002. The euro is a symbol of European integration and facilitates trade and economic cooperation among member countries. It is also the second most widely held reserve currency in the world, after the US dollar.

The Official Language Act passed by Pierre Trudeau's Liberal government allowed both French and English to be used in the federal civil service. This means that employees of the federal government were permitted to use either French or English in their work, recognizing both languages as official languages of Canada. This act aimed to promote bilingualism and ensure equal opportunities for both English and French speakers in the federal civil service.

Canada signed the North American Free Trade Agreement (NAFTA) in 1993 with the aim of easing trade with the United States. NAFTA was a trade agreement between Canada, the United States, and Mexico, aimed at eliminating barriers to trade and promoting economic cooperation. By signing NAFTA, Canada sought to enhance its economic relationship with the United States, its largest trading partner. The agreement aimed to reduce tariffs and other trade barriers, streamline customs procedures, and promote investment between the two countries, ultimately facilitating the flow of goods and services across the border.

The correct answer is EEC. The European Economic Community (EEC) was the world's largest single trading bloc by 1992. The EEC, also known as the Common Market, was created in 1957 with the goal of promoting economic integration among its member states. It eliminated trade barriers and established a common external tariff, allowing for the free movement of goods, services, and capital within the community. By 1992, the EEC had expanded its membership and had become a major player in global trade, solidifying its position as the world's largest trading bloc.

President Clinton, elected in 1992, claimed to be a new kind of Democrat, suggesting that he brought a different approach to politics. The answer "favored a number of what had been 1980s Republican policies" aligns with this claim. It implies that Clinton supported certain policies that were traditionally associated with Republicans during the 1980s, indicating his willingness to adopt ideas from the opposing party. This aligns with his objective of being a new kind of Democrat and seeking bipartisan solutions.

Thatcherism refers to the economic and political policies implemented by British Prime Minister Margaret Thatcher in the 1980s. It was characterized by a commitment to free-market principles, privatization of state-owned industries, deregulation, and reduced government intervention in the economy. Thatcherism aimed to stimulate economic growth and increase individual freedom through market forces. The term is often associated with a conservative ideology and a focus on promoting entrepreneurship, reducing the power of trade unions, and emphasizing individual responsibility.

The spending policies of the Reagan administration in the 1980s included cutbacks in spending on food stamps, school lunches, and job programs, record budget deficits, and exceeding a one trillion dollar federal budget by 1987. However, the administration did not prioritize controls on inflation as part of its spending policies.

The economic policies of the Thateher government in the 1980s included attempted cutbacks in spending on social welfare, restrictions on union power, and controls on inflation. However, preserving local property taxes was not one of their policies. This means that they did not focus on maintaining or protecting local property taxes during their time in power.