In 1860, earnings from cotton exports
(a) were minimal.
(b) accounted for a small percentage of Gross Domestic Product.
(c) exceeded the total revenue of the U.S. government by four-fold.
(d) were what attracted the majority of agriculturalists into cotton production.
(c)
You might also like to view...
An international financial crisis is
A) when a major bank defaults. B) the rapid withdrawal of foreign investments and loans from a nation. C) when at least one developing country defaults on its loans. D) when a world leader is deposed from office.
Which one of the following statements is NOT correct?
A) Unemployment can occur even when an economy is growing. B) The line between frictional and structural unemployment is sometimes hard to draw. C) The natural rate of unemployment is estimated to be between 5 percent and 6.5 percent in the U.S. D) The term "full employment" means that 100 percent of the labor force is employed.
Which of the following is most likely to reduce structural unemployment?
a. A reduction in wage rates b. Access to better information on local job openings c. Retraining workers in marketable skills d. Promotion of full employment through government stabilization policies e. Reducing the cost of job loss through enhanced unemployment benefits
Other things the same, if the price level rises by 2% and people were expecting it to rise by 5%, then some firms have
a. higher than desired prices, which increases their sales.
b. higher than desired prices, which depresses their sales.
c. lower than desired prices, which increases their sales.
d. lower than desired prices, which depresses their sales.