What Was a Feature of the U

question 64

Multiple Choice

What was a feature of the U.S. economy in the 1780s?

• A) New markets in Asia more than made up for the loss of markets in the British West Indies.
• B) Imported goods flooded the American market, undercutting craftsmen and driving down wages.
• C) Congress abolished all state tariffs on imported goods.
• D) Farmers largely benefited from the economy, while craftsmen suffered.
• E) Many states stopped printing paper money in order to make it easier for individuals to pay their debts.

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Definitions:

Electrical Motor

A device that converts electrical energy into mechanical energy, commonly used in appliances, industrial equipment, and vehicles.

Manufacturing Overhead

includes all indirect costs associated with the production process, such as utilities, maintenance, and salaries of non-direct labor.

Standard Cost System

An accounting method that uses predetermined costs for product costing and decision-making purposes.

Standard Labor-Hours

The estimated amount of time that should be required to complete a task or produce a unit of goods.