Which of the following was NOT a major claim of Fogel and Engerman (1974) in their work on slavery?
(a) Slavery was profitable for Southerners.
(b) Slavery slowed the mechanization of the plantations.
(c) Slaves were treated fairly well.
(d) Slavery was efficient.
(b)
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If Australia has relatively more land per worker, and Belgium has relatively more capital per worker, then if trade began between these two countries
A) the relative price of the land-intensive product would increase in Australia. B) the relative price of the capital-intensive product would increase in Australia. C) the relative price of the land-intensive product would increase in Belgium. D) the relative price of the capital-intensive product would decrease in Belgium. E) relative product prices would diverge between Australia and Belgium.
The absence of the Southern economy's ability to earn foreign exchange and its markets severely impacted all non-local trade in the U.S. after the Civil War
Indicate whether the statement is true or false