Which of the following is not a valid criticism of Fogel's (1964) methodology in his study of railroads?
(a) The canal prices used for 1890 were low.
(b) The impact of railroads on financial markets is ignored.
(c) The nonpecuniary gains from using railroads could have been considered.
(d) The amount of land cultivated would have been reduced.
(d)
Economics
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When a monopolistically competitive firm cuts its price to increase its sales, it experiences a gain in revenue due to the
A) output effect. B) substitution effect. C) income effect. D) price effect.
Economics
The U.S. economy during the 2001-2004 period was been characterized by all of the following except
a. expansionary fiscal policy. b. expansionary monetary policy. c. a jobless recovery. d. moderate economic growth. e. none of the above
Economics