Which of the Following Was Not Among the Serious Problems

question 26

Multiple Choice

Which of the following was not among the serious problems faced by American farmers in the late nineteenth century?

• A) deflationary prices and a static money supply
• B) inability to borrow money from eastern banks and loan companies
• C) very high mortgage interest rates
• D) natural disasters and insects like the boll weevil
• E) high state and local taxes on their land

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Definitions:

Delegation

The process of assigning responsibility and authority from one person or entity to another to carry out specific activities.

Obligor

A person or entity legally obligated to provide a benefit or payment to another in a contract.

Assignee

An individual or entity to whom rights or responsibilities are legally transferred from another.

Novation

The act of replacing an old obligation with a new one, substituting a new party for the original party, or changing the terms of an existing obligation.