Which Technological Change Did NOT Help Define and Redefine the Texas

question 53

Multiple Choice

Which technological change did NOT help define and redefine the Texas political economy over the last 150 years?

• A) cotton production
• B) cattle distribution
• C) the oil industry
• D) the development of high-tech economy
• E) the large scale irrigation from underwater reservoirs, particularly the Ogallala Aquifer

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Definitions:

Anna Jacobson Schwartz

An American economist known for her collaborative work with Milton Friedman on the history of monetary policy and banking.

Money Stock

Represents the total quantity of money available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.

Economic Activity

The actions that involve the production, distribution, and consumption of goods and services within an economy.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.