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
(c)
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Suppose that the cost of the CPI basket of goods and services rises from $137 in 2010, which is the base year, to $159 in 2011. The CPI in 2011 is ________ and the inflation rate from 2010 to 2011 is ________
A) 86; 14 percent B) 86; 22 percent C) 116; 22 percent D) 116; 16 percent E) There is not enough information to answer this question.
Which of the following is the result of a banking panic?
a. A decrease in the demand deposit multiplier b. An increase in the money supply c. An increase in bank reserves d. A decrease in the money supply e. An increase in the demand deposit multiplier