All of the following statements provide evidence in support of the Beard-Hacker Thesis except:
a. The Civil War caused a transfer of political power from Southern agrarians to Northern industrial capitalists.
b. Following secession, Congress passed legislation to increase tariffs and grant land to railroads.
c. The Civil War created a demand stimulus for manufactured goods to support the war effort.
d. The growth rate in commodity output between 1860 and 1870 was 2.0 percent for the economy as a whole and 2.3 percent for the manufacturing sector.
d. The growth rate in commodity output between 1860 and 1870 was 2.0 percent for the economy as a whole and 2.3 percent for the manufacturing sector.
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According to new growth theory
A) physical capital is nonexcludable. B) knowledge capital is subject to increasing returns. C) knowledge capital is rival and excludable. D) knowledge capital is excludable.
Under a system of freely flexible (floating) exchange rates, a U.S. trade deficit with Mexico will tend to cause:
A. the U.S. government to ration pesos to U.S. importers. B. a flow of gold from the United States to Mexico. C. an increase in the peso price of dollars. D. an increase in the dollar price of pesos.