Which of the Following Statements Is True of the Period

question 89

Multiple Choice

Which of the following statements is true of the period 1820-1870?

• A)cities grew at a more rapid pace than at any other time before or since
• B)city populations grew more rapidly than those of agricultural areas
• C)Boston was the largest and economically most important city by the end of the Civil War
• D)cities in the North grew more slowly than those in the South

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Definitions:

Marginal Product

The additional output that results from using one more unit of a particular input, holding all other inputs constant.

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee, especially to manual or unskilled workers.

Diminishing Returns

A principle stating that adding an additional factor of production results in smaller increases in output.

Marginal Product

The additional output resulting from the use of one more unit of a factor of production.