Legally speaking, the geographic concentration of slavery in the southern part of the U.S. is explained by all of the following except:
a. provisions in the Northwest Land Ordinance of 1787.
b. plantations employing high slave labor were present in Southern states.
c. laws allowing for gradual emancipation in some northern states.
d. an amendment to the U.S. Constitution that allowed importation of slaves only through the port of Charleston after 1800.
d. an amendment to the US Constitution that allowed importation of slaves only through the port of Charleston after 1800.
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If real wages fall as output rises, then in the classical model it must be the case that
a. labor demand rose. b. labor demand fell. c. labor supply rose. d. labor supply fell. e. none of the above.
A common tool for restricting trade through taxation is:
A. a tariff. B. immigration restrictions. C. international waters use policies. D. quota.
Monetary policy designed to offset an inflationary gap would:
a. Increase interest rates and increase aggregate demand. b. Increase interest rates and decrease aggregate demand. c. Decrease interest rates and increase aggregate demand d. Decrease interest rates and decrease aggregate demand.
The consumer price index tries to gauge how much incomes must rise to maintain
a. an increasing standard of living. b. a constant standard of living. c. a decreasing standard of living. d. the highest standard of living possible.