Alexander Hamilton's "Report on Manufactures" Most Favored

question 18

Multiple Choice

Alexander Hamilton's "Report on Manufactures" most favored

• A)increased shipping.
• B)increased industrialization.
• C)increased agricultural production.
• D)increased economic diversification.
• E)a balanced flow of supplies to Europe with a slight increase of demand.

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Definitions:

Marginal Cost

The expenditure required to create one more unit of a product.

Producer Surplus

The difference between the amount that producers are willing and able to sell a product for and the actual amount they do sell it for.

Demand Curve

A visual plot that illustrates the connection between the cost of a product and the amount of it buyers are prepared and capable of buying at different price levels.