Answer: Homestead Act of 1862, legislative action that promoted the settlement and development of the American West. It was also notable for the opportunity it gave African Americans to own land. President Abraham Lincoln signed the act into law on May 20, 1862. Some 270 million acres were distributed under it.
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Answer:President Andrew Jackson, 1832 message to Congress explaining his veto of a bill to recharter the Second Bank of the United States (Peters & Woolley, 2012) Although made 180 years apart, the statements above both reflect a sentiment that goes back to the earliest years of the Republic—allowing monied interests to influence government is a bad idea.
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Traditional economy relies on habit, custom, or ritual to decide what to produce, how to produce it, and to whom to distribute it.
A market economy, economic decisions are made by individuals and are based on exchange, or trade.
A command economies, because a central authority is in command of the economy.
Mixed economies market-based economic systems in which government plays a limited role.
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