Conrad and Meyer (1958) found evidence to support the claim that the annual rates of return to slave agriculture were
(a) high enough to attract investment funds away from other alternatives in the cotton South.
(b) high enough to benefit the entire Southern economy through the profits generated and the backward and forward links to other businesses.
(c) relatively low in the new frontier, thus encouraging the new cotton producing areas of the South to move away from the slave system.
(d) low enough that the people in the North could purchase the slaves and free them at minimal cost.
(a)
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The liquidity approach to measuring the money supply uses
A) near moneys only. B) M1 only. C) M2 plus some highly liquid assets. D) M1 plus some highly liquid assets.
Which of the following lists includes only banks' assets?
A) reserves, savings deposits, securities, and loans B) reserves, checkable deposits, securities, and loans C) reserves, securities, liquid assets, and savings deposits D) liquid assets, loans, securities, and reserves E) securities, reserves, checkable deposits, and liquid assets
Which of the following is true?
a. The objective of the firm is to maximize profits, by producing the amount that equates total revenue and total cost. b. The objective of the firm is to maximize profits, by producing the amount that equates average revenue and average total cost. c. The objective of the firm is to maximize profits, by producing the amount that equates average revenue and average variable cost. d. The objective of the firm is to maximize profits, by producing the amount that equates marginal revenue and marginal cost.
A government policy of providing free public K-12 education is most consistent with
A) Pareto-efficiency. B) the First Theorem of Welfare Economics. C) the Second Theorem of Welfare Economics. D) the contract curve.