Which of the Following Statements About the Lease System Is

question 44

Multiple Choice

Which of the following statements about the lease system is TRUE?

• A) Prisoners received pay for their labors.
• B) Prisoners signed agreements to work for a set amount of time that was generally shorter than the jail time they had received.
• C) The lease system was primarily employed in densely settled areas of the United States.
• D) The death rate of prisoners under this system was very low.
• E) Because businesses rented the labor of these prisoners, they were never considered slaves.

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Definitions:

Diamond/Water Paradox

A paradox highlighting the contradiction between the high value of items with little utility (diamonds) and the low value of items with great utility (water), illustrating the difference between total and marginal utility.

Value in Exchange

The worth that a product or service has in the marketplace, determined by what others are willing to give up in exchange for it.

Marginal Utility

The increased gratification or utility obtained by consuming an additional unit of a good or service.

Total Utility

The total satisfaction received by a consumer from consuming a certain amount of a good or service.