It allowed crews to take the steamboat back up the

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Unformatted text preview: ehold production among those households living close to the Canal. Home wool production fell dramatically along the canal. d. In 1800, how many days did it take to get from New York City to Chicago? How many days did it take by 1857? How would this be represented in our aggregate growth model? Six weeks in 1800. 2 days in 1857. Since it reduced transportation costs, it can be seen as an increase in TFP. e. What invention increases the profitability of flat boats along the Mississippi? The steamboat. It allowed crews to take the steamboat back up the river, which reduced the amount of travel required to return to the starting point of the voyage. Before people had to walk back up the river. 3. Using the map 2 below, sketch in each of the following landmarks. Label the area with (a), (b), … , and so on. ECON 113, SPRING 2013 PAGE 1...
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This note was uploaded on 05/03/2013 for the course ECON 113 taught by Professor Delong during the Spring '08 term at University of California, Berkeley.

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