According to Douglass North's "market opportunity response" model, surges in land sales in the Old Northwest in the 1810s, 1830s and 1850s were due to
a. improved transportation between the Old Northwest and the Northeast.
b. rising prices for corn and wheat.
c. the growth of manufacturing in the Great Lakes region.
d. large reductions in property tax rates.
b. rising prices for corn and wheat.
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Which of the following would be considered a fiscal policy action?
A) Spending on the war in Afghanistan is increased to promote homeland security. B) Tax incentives are offered to encourage the purchase of fuel efficient cars. C) A tax cut is designed to stimulate spending during a recession. D) The Fed increases the money supply.
Everything else held constant, an appreciation of the domestic currency will cause the IS curve to shift to the ________ and aggregate demand will ________
A) right; increase B) right; decrease C) left; increase D) left; decrease