After Computing the Social Savings from the Railroads, Fogel Concluded

question 10

Multiple Choice

After computing the social savings from the railroads, Fogel concluded that ______.

• A) the railroads were indispensable to the economic development of the United States.
• B) the railroads were not indispensable in 1850 but by 1890 were dispensable.
• C) the railroads could explain only a small fraction of the growth in real income in the United States.
• D) economics is not sufficiently scientific to make a meaningful calculation of the social savings.

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Definitions:

Stockholders

Individuals or entities that own shares in a corporation, thus having an interest in its performance and profits.

Employee-Owned Corporations

Businesses where the majority of the stock is owned by the employees, often leading to high levels of staff engagement and motivation.

Shares Of Stock

Units of ownership interest in a corporation or financial asset, representing a portion of a company's capital.