Why Did Many of the Poorest Whites,who in No Way

question 79

Multiple Choice

Why did many of the poorest whites,who in no way benefited from slavery,vigorously defend the "peculiar institution"?

• A) They were grateful to the planter aristocracy for backing public education.
• B) They embraced their presumed racial superiority to black slaves.
• C) They were almost always economically better off than the slaves.
• D) They admired the virtues and values of the plantation aristocracy.
• E) They benefited from the economic growth of the region.

---

Definitions:

Accrual Liabilities

Obligations that a company has incurred, for which invoices have not yet been received or payment has not been made.

Accounts Payable

Money owed by a business to its suppliers or creditors for goods and services received but not yet paid for.

Revolving Credit Agreement

A credit arrangement that allows a company or individual to borrow, repay, and borrow again up to a certain credit limit.

Commitment Fee

A fee charged by a bank for guaranteeing to have loanable funds available. The fee is charged on un borrowed amounts up to the maximum of the guarantee. See Revolving credit agreement.