The Morrill Act __________

question 18

Multiple Choice

The Morrill Act __________.

• A) created a system of land-grant colleges
• B) required men to serve two years in the army
• C) granted 160 acres of western land to settlers
• D) appropriated money for a transcontinental railroad

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price.

National Income

Total income earned by resource suppliers for their contributions to gross domestic product plus taxes on production and imports; the sum of wages and salaries, rent, interest, profit, proprietors’ income, and such taxes.

U.S. Farm Products

Agricultural commodities produced in the United States, including grains, fruits, vegetables, meat, and dairy products.

Economic Growth

(1) An outward shift in the production possibilities curve that results from an increase in resource supplies or quality or an improvement in technology; (2) an increase of real output (gross domestic product) or real output per capita.