The South's economy was based on production of
A. iron, steel and textiles.
B. corn, wheat and soybeans.
C. tobacco, cotton and rice.
D. iron, wheat and cotton.
C. tobacco, cotton and rice.
You might also like to view...
Advertising is the action of a firm that is intended to maintain the differentiation of its product over time
Indicate whether the statement is true or false
If the marginal revenue product of the fifth worker is $15, the price of the last unit of output produced is $5, and the firm sells as a price searcher, then the marginal product of the fifth worker is
a. 3 units of output b. 45 units of output c. fewer than 3 units of output d. greater than 3 units of output e. greater than 75 units of output
The aggregate supply curve shows
A. how the cost of living is related to the sum of consumption, investment, and government spending. B. how demand for final products is related to the price level. C. how production in the economy is related to the price level. D. None of the choices are shown by the aggregate supply curve.
According to the original Phillips curve, the cost of reducing the unemployment rate in the short run is a
A) fall in Real GDP. B) fall in nominal GDP. C) lower rate of price inflation. D) higher rate of wage inflation.