Author Question: The South's post-Civil War (18611865) backwardness was due to all of the following, according to ... (Read 89 times)

bobbie · **on:** Jun 30, 2018

The South's post-Civil War (18611865) 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 (18611865), thus turning cotton into a less profitable crop
(d) The sharecropping system's failure to provide incentives for innovation in agriculture

Question 2

Which of the following economists is/are considered the leader(s) in the theory of market behavior?

(a) Alfred Marshall
(b) Adam Smith
(c) David Ricardo
(d) All of the above