Which of the following is true for the period from Independence to 1860?
(a) The system of indentured servitude died out because it was seen to be immoral and inconsistent with the Constitution.
(b) The system of slavery flourished because the relative price of slaves fell consistently.
(c) The system of wage labor flourished as immigrant labor poured into the newly opened western lands.
(d) European immigrants typically shunned agricultural labor as their ticket to the good life.
(b)
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Why does the industry short-run supply curve slope upward?
What will be an ideal response?
The gross domestic product is not a good measure of the standard of living in a nation because it:
A. Includes the cost of health insurance B. Excludes payments for pollution control equipment C. Does not account for the size of the population D. Does not account for the cost of police protection