Which of the Following Was True of Agriculture in the Colonies

question 40

Multiple Choice

Which of the following was true of agriculture in the colonies during the eighteenth century?

• A) It was in decline in the backcountry as compared to coastal areas.
• B) Because New York's landlords had taken over so much land,agriculture grew more slowly in New York than in other colonies.
• C) New England moved away from smaller farming and increasingly toward large-scale farms and plantations.
• D) The standard of living on farms was far lower than it was in Europe.
• E) Farmers in the Middle Colonies had no interest in the market.

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Definitions:

Net Income

The total earnings a company makes after all expenses and taxes have been deducted from revenue.

Stockholders' Equity

Stockholders' equity represents the residual interest in the assets of a corporation after deducting its liabilities, essentially the net worth attributable to shareholders.

Note Payable

A legal obligation representing a loan or promissory note that requires the borrower to repay the lender a certain amount of money at a future date or on demand.

Cash Payment

A transaction in which money is paid immediately at the time of purchase, not on credit.