What Decision Made by Henry Clay Frick Led to the Deaths

question 45

Multiple Choice

What decision made by Henry Clay Frick led to the deaths and injuries that took place at the Homestead mill in 1892?

• A) The call for the Pennsylvania National Guard to defend the plant
• B) The hiring of Pinkertons to enter the plant via the river
• C) The call for strikebreakers to fire on the striking workers
• D) The plan to shut the plant's doors and arm nonunion workers

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Definitions:

Neoclassical Assumptions

The foundational premises of neoclassical economics, such as rational behavior, market equilibrium, and utility maximization.

Behavioral Economists

Specialists examining the effects of psychological, cognitive, emotional, cultural, and social components on the economic decision-making of individuals and institutions.

Nudges

Subtle policy shifts or design changes that steer people's behavior in predictable ways without forbidding any options or significantly changing economic incentives.

Prospect Theory

A behavioral economic theory that suggests individuals value gains and losses differently, leading to decisions that can deviate from traditional economic predictions which assume rational behavior.