During Reconstruction,regarding Land Ownership in the South

question 38

Multiple Choice

During Reconstruction,regarding land ownership in the South,

• A) the Freedmen's Bureau distributed millions of acres of land to freedmen.
• B) most plantations abandoned during the Civil War remained vacant.
• C) ownership by both whites and blacks increased.
• D) the federal government vigorously acted to confiscate land owned by former Confederates.
• E) ownership by whites declined, while ownership by blacks increased.

Grasp the impact of foreign tourism on the trade imbalance.

Comprehend the historical movement toward free trade since World War II.

Understand Adam Smith's views on trade and the rationale behind national economic activities.

Identify historical trends in the net exports (Xn) of the United States.

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Definitions:

Labor Market

The supply and demand for labor, where employers seek to hire workers and workers look for jobs.

Purely Competitive Market

A purely competitive market is an economic theory describing a market where many sellers offer identical products, leading to prices being determined by supply and demand.

Price Of Labor

Refers to the wage rate or amount of money paid to workers for their services per unit of time, often influenced by factors such as skill level and demand for the job.

Competitive Labor Market

A market where employers compete to hire the best, and workers compete for the best satisfying job, with wage rates determined by supply and demand.