Widespread assumptions about the first transatlantic railroad did NOT include:
a. that government support was as essential.
b. that profits to the nation would be enormous.
c. that private investors would be easily compensated for any risk.
d. that transatlantic crossing via rail would take a fraction of the time of a clipper ship passage.
c. that private investors would be easily compensated for any risk.
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What did Adam Smith identify as the source of the invisible hand in 1776?
A) a benevolent central government that decided was best for everyone B) an individual's concern for fellow humans C) an individual's own self-interest D) the stock market E) buyers' and suppliers' concerns to obtain and retain good reputations
The growth rate of real GDP per person in the United States has
A) averaged approximately 2 percent per year over the past century. B) has consistently been 2 percent per decade over the past century. C) has been the highest in the world over the past 5 decades. D) has increased every year over the past century.