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Author Question: Which of the following statements presents accurate information about antebellum wages for males ... (Read 77 times)

khang

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on: Jun 30, 2018
Which of the following statements presents accurate information about antebellum wages for males employed in manufacturing?
 a. During the 1850s, real wages doubled.
  b. Real wages were higher and grew more rapidly in New England than in the Middle Atlantic states.
  c. Wage rates converged in the mid-1800s due to transportation improvements.
  d. Wage rates in the 1820s were higher in rural areas than in urban areas.

Question 2

The income elasticity of demand for agricultural products is typically
 a. less than zero.
  b. greater than zero, but less than one.
  c. greater than one.
  d. infinity.


wuly

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c. Wage rates converged in the mid-1800s due to transportation improvements.

Answer to Question 2

b. greater than zero, but less than one.


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