Robert Fogel's upper bound estimate of the social savings from ...

[erika]

Robert Fogel's upper bound estimate of the social savings from the railroad industry came to about ____ of the GNP in 1890
 a. 7
  b. 15
  c. 20
  d. 120

Question 2

Fogel argued that railroads were more cost effective than canals because railroads were faster and were in service all year and that using rail instead of canals would ____.
 a. lower freight rates on the railroads
  b. lower government subsidies for railroads
  c. lower eastern inventories of grain in the
  d. reduce the wheat being shipped to Europe

[Carliemb17]

Answer to Question 1

a. 7

Answer to Question 2

c. lower eastern inventories of grain in the East

[erika]

Thanks for the timely response, appreciate it

[cici]

Gracias!