What Do Hulks and the Auburn System Have in Common

question 63

Multiple Choice

What do hulks and the Auburn system have in common?

• A)both were outgrowths of socialism
• B)both were utopian socialist movements
• C)both were penal methods
• D)both applied classical economics to agrarian reform

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Definitions:

Liberal Economist

An economist advocating for policies promoting free market principles, minimal government intervention, and individual liberties in economic matters.

Government Spending Cuts

Government Spending Cuts involve the reduction of public sector expenditure in an attempt to balance budgets and reduce deficits.

Multiplier

In economics, it refers to the factor by which gains in total output are greater than the change in spending that caused it.

GDP

The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.