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Author Question: Alice Hanson Jones (1980) finds that private nonhuman physical wealth in New England in 1774 was ... (Read 63 times)

pane00

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on: Jun 30, 2018
Alice Hanson Jones (1980) finds that private nonhuman physical wealth in New England in 1774 was 36.4 pounds sterling per capita. Thus, assuming a capital output ratio of 3:1, Jones estimates that per capita income in New England in 1774 equaled:
 a. about 9 pounds sterling.
  b. about 12 pounds sterling.
  c. about 45 pounds sterling.
  d. about 145 pounds sterling.

Question 2

Most of the increase in total money supply between 1860 and 1920 was due to:
 a. sustained economic growth.
  b. the growth of bank deposits.
  c. an increase in greenbacks.
  d. new discoveries of gold and silver.


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CourtneyCNorton

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

b. about 12 pounds sterling.

Answer to Question 2

b. the growth of bank deposits.


pane00

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

brbarasa

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Reply 3 on: Yesterday
:D TYSM

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