All of the Following Are True Statements About the Homestead

question 127

Multiple Choice

All of the following are true statements about the Homestead Act except

• A) it was consistent with previous government public land policy designed to raise revenue.
• B) about a half million families carved out new homes in the 40 years after its passage.
• C) ten times more of the public land ended up in the hands of land speculators than farmers.
• D) thousands of people didn't last the five years required by the Homestead Act.
• E) the law was designed to provide a stimulus to the family farm.

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Definitions:

Marginal Adjustment

Small, incremental changes made to a plan, system, or calculation in response to changes in circumstances or new information.

Marginal Changes

Small incremental adjustments to a plan of action, often analyzed in economics to understand the effects of slightly altering production, consumption, or investment.

Normative Economic Statements

Statements that reflect an opinion or judgment about what ought to be in the economy, focusing on what should happen or what ought to be.

Microeconomics: A Contemporary Introduction

An educational resource that provides an updated overview of the principles and applications of microeconomics.