In the Compromise of 1850,Congress Determined That Slavery in the New

question 15

Multiple Choice

In the Compromise of 1850,Congress determined that slavery in the New Mexico and Utah territories was to be

• A) banned until the territory applied for statehood.
• B) legal in New Mexico but prohibited in Utah.
• C) decided by popular sovereignty.
• D) decided upon by Congress after a ten year cooling off period.
• E) decided by the Mormon Church.

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Definitions:

Behavioral Economics

The branch of economic theory that combines insights from economics, psychology, and biology to make more accurate predictions about human behavior than conventional neoclassical economics, which is hampered by its core assumptions that people are fundamentally rational and almost entirely self-interested. Behavioral economics can explain framing effects, anchoring, mental accounting, the endowment effect, status quo bias, time inconsistency, and loss aversion.

Harmful Decisions

Choices made by individuals or entities that result in negative consequences or damage.

Neoclassical Economics

The dominant and conventional branch of economic theory that attempts to predict human behavior by building economic models based on simplifying assumptions about people’s motives and capabilities. These include that people are fundamentally rational; motivated almost entirely by self-interest; good at math; and unaffected by heuristics, time inconsistency, and self-control problems.

Rational Decision

Made when an individual, with clear set objectives, uses logic and all available information to choose the best possible outcome from various alternatives.