Crop lien laws that existed in the South in the late 19th century:
a. allowed country stores to require debtors to repay their debts in cotton.
b. led to the under-production of cotton.
c. protected sharecroppers from exploitation by banks and other lending institutions.
d. redistributed property by providing small farms for freed slaves.
e. All of the above.
a. allowed country stores to require debtors to repay their debts in cotton.
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At the break-even point for the consumption function
A) saving is positive. B) saving is zero. C) saving is negative. D) the marginal propensity to consume equals l.
For a normal good, the income and substitution effect work in the same direction. For an inferior good, the income and substitution effects work in opposite directions
Does this imply that the demand curve for an inferior good is upward sloping? Explain.
When free international trade takes place, in accordance with a country's comparative advantage,
a. producers in export industries are likely to favor it because they sell a larger quantity at identical prices b. producers in export industries are likely to oppose it because they sell a larger quantity, which lowers prices in accordance with the laws of supply and demand c. producers in import industries are likely to favor it because they sell a larger quantity at only slightly depressed prices d. export industry workers are likely to favor it, import industry workers are likely to hate it e. consumers are likely to be of two minds: they hate the more expensive import goods, but they love the cheaper export goods
With flexible exchange rates, an increase in U.S. interest rates can be expected to ________.
A. lower the foreign exchange value of the dollar B. adversely affect U.S. exporters C. cause a net outflow of foreign capital from the United States D. encourage investment spending by U.S. firms