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

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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
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This note was uploaded on 02/03/2010 for the course ECON econ148 taught by Professor Fle during the Winter '09 term at UC Riverside.

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

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