The federal government granted 200 million acres of land to railroads. Which of the following statements presents accurate information about these land grants?
a. The railroads were required to return 1/3 of the profits from the sale of this land to the federal government.
b. The alternate section provision allowed state governments to purchase portions of the land grants from the railroads at reduced prices.
c. The system of land grant subsidies were difficult to eliminate because of public opposition.
d. Congress required railroad companies that received land grants to transport mail, troops and government property at reduced rates.
d. Congress required railroad companies that received land grants to transport mail, troops and government property at reduced rates.
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If the marginal leakage rate is 0.2, then a $300 fall in autonomous planned expenditures will shift the IS curve leftward by the amount of
A) $300. B) $1500. C) $75. D) $600.
Why do some economists prefer government planning and financing of big-push development to private sector development? Because
a. private firms have a longer planning horizon than governments b. governments have a longer planning horizon than private firms c. private firms cannot collect taxes d. it takes less initial start-up capital than any alternative development strategy e. private firms create markets and government planning does not require market creation