Indentured Servants ________

question 13

Multiple Choice

Indentured servants ________.

• A) were working off the cost of their passage to America
• B) served the same number of years regardless of age or experience
• C) had no more legal rights than slaves
• D) were never legally emancipated
• E) usually lived long enough to complete their terms of service

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Definitions:

Limited Budget

A financial constraint that limits the amount of money available for spending or investing.

Marginal Utilities

refers to the additional satisfaction or utility gained by consuming one more unit of a good or service.

Money Income

Money income includes the total earnings received by an individual or household in the form of wages, salaries, benefits, and returns on investments over a period.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, where individuals substitute away from more expensive goods towards cheaper ones.