After the Civil War (1861–1865), the cotton South
(a) continued to experience prosperity.
(b) was no longer the main contributor to the agricultural sector, as wheat production elsewhere began to prosper.
(c) experienced prosperity in some Southern states but not in all.
(d) was no longer the major source of income for the South; Southerners quickly supplemented their cotton incomes with income generated by the manufacturing sector.
(b)
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Credit rationing refers to
A) the increase in the interest rate that occurs when the demand for credit increases. B) the increase in the interest rate that occurs when the supply of credit increases. C) the increase in the interest rate that occurs when the supply of credit decreases. D) a restriction in the availability of credit.
A friend of yours asks you why market prices are better than government-determined prices. Because you understand economic principles, you say that market-determined prices are better because they generally reflect
a. the value of a good to society, but not the cost of making it. b. the cost of making a good to society, but not its value. c. both the value of a good to society and the cost of making it. d. neither the value of a good to society nor the cost of making it.