The South's post-Civil War (1861–1865) backwardness was due to all of the following, according to Hughes and Cain (2011), except
(a) Extensive wartime destruction of life and wealth
(b) The fiscal disaster of the Confederacy, whereby nine-tenths of the state banks of the South vanished
(c) The price of cotton, which did not fall, but did fail to increase as it had prior to the Civil War (1861–1865), thus turning cotton into a less profitable crop
(d) The sharecropping system's failure to provide incentives for innovation in agriculture
(c)
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Answer the following statements true (T) or false (F)
1) If retailers have a resale price maintenance agreement with a manufacturer, typically if the retailers charge a price above the specified minimum price, this will lower their profit. 2) It is not possible for an online retailer with no physical locations to free ride on other retailers' in-store product-specific services. 3) A manufacturer's ultimate objective in specifying a minimum resale price is promotional. 4) If retailers have a resale price maintenance agreement with a manufacturer, competition forces successful retailers to provide product-specific services. 5) The treatment of resale price maintenance in the European Union is the same as in the United States.
The following table depicts both the product and labor markets for imported coffee. What is the total revenue when 15 workers per day are hired?
A) $5,000 B) $6,750 C) $7,350 D) $7,500
If the Bank of Japan permanently increases its money supply, then which of the following is most likely to take place in the short run?
a. Japanese prices will immediately decrease. b. Japanese prices will immediately increase. c. Japanese interest rates will increase. d. Japanese interest rates will decrease.
All of the following are costs of unemployment EXCEPT:
A. lost self-esteem. B. lost leisure time. C. lost tax revenue. D. lost income.