ECON2200 Exam 2 Notes 3 - ECON2200Exam2Notes Valued added...

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ECON2200 Exam 2 Notes  Valued added per worker in the MENS CLOTHING industry expanded greatly in the 19 th century due to development of standardized sizes, rotary cutting machines and reciprocating knives. In 1860 WATER power was more important than STEAM power but by end of 19 th century, 90% of manufacturing energy came from COAL INCOME ELASTIC: emergence of tobacco products and malt liquors as major industries suggests demand was. In late 19 th century changes in seasonal demand for money caused IR to INCREASE in fall and winter and DECREASE in spring/summer Purchase of coal mines by Carnegie steel = backward vertical merger Alexander field telegraph created social benefit contributed to LT growth because it allowed CAPITAL savings Cliometric studies Federal Reserve Act Fed Res district banks held the cash reserves for member banks Member banks owned the stock of the fed res district banks TRUE: Under Clayton Act practices such as price discrimination and interlocking directorates were prohibited if these practices had the effect of reducing
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ECON2200 Exam 2 Notes 3 - ECON2200Exam2Notes Valued added...

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