What Did the Confederacy Do by 1863 Because It Was

question 30

Multiple Choice

What did the Confederacy do by 1863 because it was desperate for money by 1863?

• A)It declared itself insolvent.
• B)It tried to tax nearly everything.
• C)It asked the Union for a loan.
• D)It tried to sell New Mexico to Mexico for $20 million.
• E)It printed $100 million in paper money to be circulated.

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Definitions:

Production

The process of creating goods and services through the combination of labor, materials, and technology.

Quantity

The amount or number of a material or immaterial good or service.

Average Fixed Cost

The fixed costs of production (expenses that do not change with the level of output) divided by the quantity of output produced.

Output

The total quantity of goods and services produced by an economy or a firm.