Quantitative evidence from Fishlow, Fogel and Mercer indicates that
a. antebellum railroads were built ahead of demand, but post-bellum transcontinentals were not.
b. post-bellum transcontinentals were built ahead of demand, but antebellum railroads were not.
c. both antebellum railroads and post-bellum railroads were built ahead of demand.
d. antebellum railroads were not built ahead of demand, but the evidence on post-bellum railroads is mixed.
b. post-bellum transcontinentals were built ahead of demand, but antebellum railroads were not.
Economics
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Economics
Refer to Table 19-3. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200. B) $1,600. C) $1,400. D) $1,200.
Economics