Quiz _4, 5-1 - Quiz#4,Econ.148,Friday5109 1...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Quiz #4, Econ. 148, Friday 5-1-09 1. What canals succeeded by use of “marginal-cost pricing”, enabled by tax-support a. Erie b. Ohio State n-s canals, L. Erie to Ohio R. c. Susquehanna Canal, linking Baltimore to a major valley in Pennsylvania d. Short canals through New Jersey, Delaware R. to Hudson R. e. A-c 2. After the Canal Boom era, several states stiffed their creditors by going bankrupt. Almost  all then adopted strict bank regulations, limiting bank loans to a fixed multiple of their  capital, say about 15 times.  Capital was to be held in “specie” (gold and silver).  Yet we  lurched right into a new boom, the first r.r. boom. How could that happen? a. Americans are incurable optimists and boomers b. The r.r. was a new technology, so this time would be different, everyone thought c. Crooked bankers had been screened out, purging the system of troublemakers d.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern