What Was the Fate of Most Fortune Seekers Who Headed

question 20

Multiple Choice

What was the fate of most fortune seekers who headed west to mine for gold?

• A) A large majority were able to easily extract gold at the surface and become very wealthy.
• B) Most did not get rich and eventually worked as wage laborers for large mining corporations.
• C) Many set up boomtowns and mining camps that were relatively safe and free of crime.
• D) Most bought land titles and settled down as respectable farmers.

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Definitions:

Population

The total number of people inhabiting a specific area or region.

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A group of individuals born and living around the same time, sharing similar cultural experiences or characteristics.

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Present value is the current value of a future sum of money or stream of cash flows given a specified rate of return, reflecting the time value of money.

Future Value

The value of an investment or cash flow at a specified future date, calculated by applying expected rates of return or interest rates.