Which of the Following Caused a Significant Increase in the Demand

question 11

Multiple Choice

Which of the following caused a significant increase in the demand for western timber?

• A) The housing boom in the Old Northwest
• B) The decision by Congress to double the number of ships in the United States Navy
• C) The California Gold Rush
• D) The expansion of the South's slave society into the Old Southwest

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Definitions:

360-Day Year

This is a simplified method used in some financial calculations where the year is assumed to have 360 days for ease of interest computation.

Total Amount

The complete sum or quantity of something, encompassing all components or elements.

Ordinary Interest

Interest that is calculated based on a 360-day year, often used in banking and finance for simplifying interest calculations on loans and investments.

Exact Interest

This refers to the method of calculating interest based on a 365-day year or actual number of days in a month, providing a precise interest calculation.