During the great canal-building era, from roughly 1815 to 1843, Hughes and Cain (2011) claim that
(a) most canals earned normal profits.
(b) no canals earned profits.
(c) all canals in the initial period of construction earned normal profits but none did in the later period because of over-construction and competition from the railroads.
(d) the Erie Canal was one of the few, perhaps the only one, to earn normal profits.
(d)
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The size of the multiplier depends on
A) the level of autonomous investment. B) the marginal propensity to consume. C) the level of net exports. D) the level of autonomous consumption.
Which of the following groups is most likely to derive substantial benefits from the Patient Protection and Affordable Care Act?
a. Healthy young people. b. Individuals and families with incomes of more than 400 percent of the poverty level. c. Individuals with pre-existing health problems. d. The elderly.