Which of the Following Is True

question 90

Multiple Choice

Which of the following is true?

• A)The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market.
• B)Southern manufacturers were hurt by the high protective tariffs of the 19th century that kept out cheaper British manufactured goods.
• C)The national railroad network created an "American economy" rather than just a series of regional economies located in one country.
• D)Agricultural inventions such as John Deere's steel plows greatly improved farm productivity.
• E)All of the choices are true.

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Definitions:

Disposable Income

After-tax financial resources available to households for the purposes of saving and spending.

Unemployment Level

The proportion of the workforce that is not currently employed but actively seeking employment.

Interest Rate

is the cost of borrowing money or the return for investing, usually expressed as a percentage of the principal over a one-year period.

Consumption Function

An economic formula representing the relationship between total consumption and gross national income, positing that consumption patterns are directly related to income levels.