Which of the Following Statements Is NOT True During the Colonial

question 51

Multiple Choice

Which of the following statements is NOT true during the colonial years,according to Hughes and Cain (2011) ?

• A) Labor organizations were considered, by law, criminal conspiracies against society.
• B) Colonial society provided for its aged and sick poor; others had to work.
• C) Efforts to control wages and prices by governmental authority were present.
• D) Compulsory labor applied only to slaves and indentured servants.
• E) Idle persons were frequently jailed for the crime of having no visible means of support.

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Definitions:

Moral Hazard

A situation where one party is more likely to take risks because another party bears the consequences of those risks, often arising in insurance and finance contexts.

Government Bailouts

Financial support provided by the government to prevent the failure of a struggling company or industry, often to stabilize the economy and preserve jobs.

Struggling Companies

Firms that are facing financial difficulties or are unable to achieve desired business performance.

Moral Hazard

An instance where an individual or group is inclined to partake in high-risk activities, reassured by the fact that any resultant costs will be absorbed by a different party.