Extensive agricultural cultivation from 1870 to 1910, as described by Hughes and Cain (2011), meant that
(a) there could be no increase in agricultural output per man hour.
(b) the percentage increase in acreage under cultivation and the percentage increase
in agricultural output was roughly the same.
(c) the proportion of the labor force in agriculture steadily increased.
(d) all of the above were true.
(b)
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An exchange rate that varies according to supply and demand for the currency in the foreign exchange market is called a ________ exchange rate.
A. flexible B. nominal C. real D. fixed
Economists refer a to a market where buying and selling take place at prices that violate government price regulations as
A) a noncompetitive market. B) an outlaw market. C) a black market. D) a restricted market.
Describe the controversy surrounding the HO model and the widening of the American income gap
What will be an ideal response?
According to the crude quantity theory of money, if M were increased by 20%, what would happen to V, P, and Q?
What will be an ideal response?