Even Though a High Portion of the Public Debt Is

question 22

Multiple Choice

Even though a high portion of the public debt is held by older and wealthy individuals or institutions, the debt is paid for by increased taxes on

• A) only those holding the actual debt.
• B) all taxpayers.
• C) those who invest in the stock market.
• D) purchasers of gasoline and luxury items.

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Definitions:

Abolition

Social movement of the pre–Civil War era that advocated the immediate emancipation of the slaves and their incorporation into American society as equal citizens.

Colonization

The process by which a central system of power dominates the surrounding land and its components, often involving the settlement of its population and exploitation of resources.

Slaveholding Border States

Refers to the U.S. states on the border between the North and South that permitted slavery during the Civil War but did not secede from the Union.