In answering the question "Did the Civil War help promote economic growth and industrialization?" Hughes and Cain (2011) conclude that
(a) the war, rather than being a major stimulus to industry, was actually a great drain that slowed U.S. economic development for a time.
(b) the war was indeed a major stimulus to industry because it promoted the building of wartime factories and new technology, which then provided a basis for rapidly growing production levels when peace came.
(c) the war was a setback for the South but a great stimulus for the North.
(d) the war seemed to have had no overall impact on the economic growth of the nation.
(a)
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Which of the following statements is FALSE?
A) disposable income - saving = consumption B) consumption + saving = disposable income C) saving = disposable income - consumption D) consumption = saving - disposable income
If a monopolistically competitive firm raises its price, it
a. loses all of its customers (sales drop to zero) b. loses some, but not all, of its customers c. loses very few customers d. loses no customers at all e. gains customers (sales increase)