Opportunity cost of everything increase, Public Economics

Earlier than the Civil War, the South graded with the North and with England. It sold cotton and bought manufactured goods and food. Throughout the war, one of Lincoln's first actions was to blockade the ports, which not permitted this trade. The South had to enhance its production of munitions and food.

1. In what did the South have a comparative benefit?

2. Did the Civil War change any opportunity costs in the South? Did the opportunity cost of everything increase? Or did items cost less?

Posted Date: 3/22/2013 3:12:27 AM | Location : United States

Related Discussions:- Opportunity cost of everything increase, Assignment Help, Ask Question on Opportunity cost of everything increase, Get Answer, Expert's Help, Opportunity cost of everything increase Discussions

Write discussion on Opportunity cost of everything increase
Your posts are moderated
Related Questions
In the context of hospital care, explain and distinguish between occupancy rate, capacity, and utilization.

This variant of coordination problem seeks the answer to why some countries fail to grow when public and private rent seeking makes property rights insecure. One reason is that re

Question 1: "A Policy may be defined as a major course of action within a given environment intended to reach a goal or realize an objective." Give an account of the making

The require for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Suppose these statements to be correct, 1.    How will a successful campai

Discuss whether high indirect taxes are the best way to discourage smoking.

Q. Why does government undertake an economic activity? If ever an activity has large externality or spill over and includes a large number of people, it may be found better th

Problem 1: "The public sector needs to be reformed so as to meet the challenges of the day." With special reference to Mauritius, discuss the challenges that the public sect

Q. Example on Uncertainty and the policy process? For example, if it is expected that current government will be replaced in upcoming election, and the next government will be

Jack and Jill live alone on  an island. Their labour supply schedules are  identical and given by L = (1 - t)w, where t is the income tax rate and w denotes the wage. Jill's wage i