One of the Most Path-Breaking Step of the Northwest Ordinance

question 14

Multiple Choice

One of the most path-breaking step of the Northwest Ordinance of 1787

• A) set aside a section of each township for education.
• B) abolished slavery in all of the United States.
• C) prohibited slavery in the Old Northwest.
• D) used the revenue from land sales for defense of the West.
• E) established "land grant" universities in each of the Great Lakes states.

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Definitions:

Interest-Rate Cost-Of-Funds

The expense associated with borrowing money, typically expressed as a percentage rate, impacting the cost of accessing funds for lending or investment.

Expected Rate of Return

The anticipated earnings on an investment, typically expressed as an annual percentage.

Marginal Utility

The change in satisfaction or utility an individual gains from consuming an additional unit of a good or service.

MU/P Ratio

The MU/P Ratio stands for the marginal utility to price ratio, used in economics to analyze consumer choice by comparing the additional satisfaction (utility) received from an increase in consumption of a good relative to its price.