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Author Question: The U.S. terminated its role in the slave trade in the early 1800s. What is the best assessment of ... (Read 56 times)

a0266361136

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on: Jun 30, 2018
The U.S. terminated its role in the slave trade in the early 1800s. What is the best assessment of what would have happened had the U.S. not ended the slave trade?
 a. The price of slaves would be lower and the wages of free workers would be lower.
  b. The price of slaves would be higher and the quantity of free workers would be lower.
  c. The price of slaves would be lower and the wages of free workers would be higher.
  d. The quantity of slaves would be higher and the quantity of free workers would be higher.
  e. The quantity of slaves would be lower and the wages of free workers would be lower.

Question 2

If a government wants to distribute the burden of increased spending onto future generations it should:
 a. Increase taxes
  b. Borrow from the public
  c. Print more money


ghepp

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a. The price of slaves would be lower and the wages of free workers would be lower. The supply for slaves would shift out, thus lowering the price of slaves and increasing the quantity of slaves. Because slaves and free workers are substitutes, the demand curve for free workers would decrease, thus decreasing both the price and quantity of free labor.

Answer to Question 2

b. Borrow from the public


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