The Panic of 1857

question 2

Multiple Choice

The Panic of 1857:

• A) was the worst depression in American history
• B) ended sectional bickering
• C) caused church attendance to decline
• D) was triggered by the violence in Kansas
• E) strengthened southern confidence in its cotton economy

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Definitions:

Donald Boudreaux

An American economist known for his work in free market economics and public choice theory, and for being a prolific writer on these subjects.

Private Property

Assets or possessions owned by individuals or corporations and protected by law from unauthorized use or trespass by others.

Alternative Uses

The different purposes or applications a resource can be used for, highlighting economic choices and trade-offs.

Capital Goods

Long-lasting goods acquired and used by businesses to produce goods and services and contribute to their productive capacity.