Modern work in economic history by people like Robert Fogel (1964) and Albert Fishlow (1965) shows
(a) that railroads were the indispensable key to rapid economic growth in the 19th century.
(b) that the levels of Gross National Product (GNP) reached in 1890 would have been reached
in 1880 had it not been for reckless railroad speculation.
(c) that less than 5% of the country's late 19th-century economic growth was attributable to railroads.
(d) none of the above.
(c)
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Suppose the annual growth rate of GDP in Nepal is 5 percent. In 35 years, GDP in Nepal will double
A) 1.75 times. B) 2.5 times. C) 7 times. D) 24.5 times.
All of the following shift the aggregate demand curve to the right EXCEPT
A) an increase in expected future profit. B) an increase in foreign income. C) an increase in government expenditure. D) an increase in taxes. E) an expansion of the global economy.
A free rider is one who enjoys the benefits of a public good without paying for it
a. True b. False Indicate whether the statement is true or false
What amount must be earned to induce investors to continue to supply the funds necessary to maintain a firm's capital assets?
a. stockholder equity b. the opportunity cost of capital c. economic profit d. accounting profit