"Antebellum transportation improvements encouraged the South to specialize in cotton, while depending on the West for food and the Northeast for manufactured goods.". This statement
a. describes Rostow's stages of growth model.
b. describes North's interregional growth hypothesis.
c. describes Thomas Jefferson's vision of the US economy.
d. is supported by most contemporary economic historians.
b. describes North's interregional growth hypothesis.
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Which of the following macroeconomic variables would you include in an index of leading economic indicators?
A) Employment B) Inflation C) Real interest rates D) Residential investment
Why doesn't a perfectly competitive firm charge a price slightly higher than the industry price in order to earn extra profit?
Commodity egalitarianism suggests that some goods be available to everyone.
A. True B. False C. Uncertain
Four companies dominate the market for robotic lawn mowers. Each company takes a different action. Which action is most likely to present a barrier to potential entrants to the industry?
a. Firm A obtains a patent on the technology it uses in its robots. b. Firm B discovers a cost-saving process that also speeds production. c. Firm C becomes the price leader in the industry and raises its prices. d. Firm D uses game theory strategies to predict the actions of its rivals.