Which of the Following Was Not a Direct or Indirect

question 28

Multiple Choice

Which of the following was not a direct or indirect result of the American Revolution?

• A) Large numbers of blacks fled the country with British Loyalists after the war.
• B) The decline of tobacco led to some improvements in the labor situation for slaves in the South.
• C) Slavery was abolished in all the northern colonies (except New Jersey and New York) by 1784.
• D) Freeing slaves became easier in several of the border states.

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Definitions:

Deadweight Loss

A loss in total surplus that occurs when a market is not in equilibrium, often due to taxes, subsidies, or market controls suppressing the market's ability to reach an efficient allocation of resources.

Marginal Cost Curve

A curve showing how the cost of producing one additional unit of a good varies as the quantity of the good produced changes.

Competitive Price

The price point in a market where supply meets demand, often driven by competition among firms and considered the equilibrium price.

Monopoly Power

The ability of a single supplier to control market prices and exclude competition in a particular market.