As a Result of the Development of the Cotton Gin

question 87

Multiple Choice

As a result of the development of the cotton gin

• A) slavery revived and expanded.
• B) American industry bought more southern cotton than did British manufacturers.
• C) a nationwide depression ensued.
• D) the South diversified its economy.
• E) the textile industry moved to the South.

Analyze the impact of opportunity costs in the production of goods.

Understand the implications of economic growth and technological advancements on the PPF.

Grasp the significance of efficiency and resource allocation in an economy.

Comprehend how changes in unemployment affect the economy's production capabilities.

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Definitions:

Profit-Sharing Plan

A company-wide program that provides employees with a share in the profits of the company, typically based on its quarterly or annual earnings.

Merit Pay

A pay system where employees are compensated based on their performance, as measured through appraisals or achievements, incentivizing higher productivity and excellence.

Individual Bonus

A financial reward given to an employee for achieving specific performance targets or completing tasks beyond regular job requirements.

Stock Options

Financial instruments that give employees the right to buy shares of their company's stock at a predetermined price.