Which of the Following Is True of Members of the Liberty

question 45

Multiple Choice

Which of the following is true of members of the Liberty Party?

• A) They believed that the federal government should establish a reservation for African Americans in the Western territories.
• B) They advocated a federal resettlement program to aid newly freed slaves.
• C) They believed that Southern slaveowners should be compensated for their loss of property when they freed their slaves.
• D) They believed that it was up to the states to abolish slavery.

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Definitions:

Opportunity Cost

The cost of choosing one option over another, representing the value of the foregone alternative.

Marginal Cost

The financial outlay involved in producing an additional unit of a product or service.

Resources

The total means available for economic and political development, such as minerals, labor, and capital.

Pareto Optimal

A situation in economics where resources are allocated in the most efficient manner, making it impossible to reallocate without making at least one individual worse off.