The US Terminated Its Role in the Slave Trade in the the Early

question 14

Multiple Choice

The U.S. terminated its role in the slave trade in the early 1800s. What is the best assessment of what would have happened had the U.S. not ended the slave trade?

• A) The price of slaves would be lower and the wages of free workers would be lower.
• B) The price of slaves would be higher and the quantity of free workers would be lower.
• C) The price of slaves would be lower and the wages of free workers would be higher.
• D) The quantity of slaves would be higher and the quantity of free workers would be higher.
• E) The quantity of slaves would be lower and the wages of free workers would be lower.

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Definitions:

Cryptocurrencies

Digital or virtual currencies using cryptography for secure financial transactions, operating independently of a central bank.

Physical Commodity

Tangible goods that are traded, bought, or sold, such as oil, grain, or metals.

Government Backing

The support or endorsement provided by a government to an entity, which can include financial guarantees, subsidies, or policies beneficial to the entity.

Overvalued

When the market price of an asset exceeds its intrinsic value.