If the rate of interest is fixed, the MFC of capital is equal to the interest rate

The fastest growing category of government expenditure is

A) transfer payments. B) defense spending. C) grants to state and local governments. D) government purchases.

The South's post-Civil War (1861–1865) backwardness was due to all of the following, according to Hughes and Cain (2011), except

(a) Extensive wartime destruction of life and wealth (b) The fiscal disaster of the Confederacy, whereby nine-tenths of the state banks of the South vanished (c) The price of cotton, which did not fall, but did fail to increase as it had prior to the Civil War (1861–1865), thus turning cotton into a less profitable crop (d) The sharecropping system's failure to provide incentives for innovation in agriculture