All of the Following Slave States Remained in the Union

question 9

Multiple Choice

All of the following slave states remained in the Union despite the fact that approximately 14 percent of their population consisted of slaves,except

• A)Arkansas.
• B)Kentucky.
• C)Missouri.
• D)Maryland.
• E)Delaware.

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Definitions:

Legal Markets

Markets operating within the framework of regulatory laws and norms, where transactions of goods and services occur legally.

Supply and Demand

The fundamental economic model that describes the interaction between the availability of a particular product and the desire for that product, determining its price.

Deadweight Loss

A loss of economic efficiency that occurs when the optimal level of supply and demand is not achieved.

Supply Elasticities

Measures the responsiveness of the quantity supplied of a good to a change in its price.