The Growth and Development of Industry in the South

question 38

Multiple Choice

The growth and development of industry in the South

• A) consistently lagged behind southern agricultural interests.
• B) had a greater impact on the southern economy than agriculture.
• C) resulted in a higher literacy rate in the South than in the North.
• D) turned the North into a colonial dependency of the more developed South.
• E) was nonexistent before the start of the Civil War.

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Definitions:

Utility Function

A mathematical representation in economics that reflects the satisfaction or utility a consumer derives from consuming a certain quantity of goods and services.

Income

Income earned, particularly in a consistent manner, from employment or investment returns.

Price

The amount of money expected, required, or given in payment for something.

Commodity X

A placeholder name for a generic commodity or product in economic models or discussions.