Question

In: Economics

Economies of southern states are growing faster than northern ones, primarily because: Group of answer choices...

Economies of southern states are growing faster than northern ones, primarily because:

Group of answer choices

technological diffusion is increasing output per worker

capital in the north is subject to diminishing returns but not in the south

people are moving and the population is growing

productivity in the south is increasing

  

Solutions

Expert Solution

As we know that the southern states are far more wealthier than the northern states on per capita basis even with the slave population counted .Now the primarliy main reason is that , Wihtout big farms to run , North states people did not rely on the slaves labor very much and In in south , the economy is based on the agriculture .The soil is very fertile and good for farming .Because of this , the farmers of southern states wanted to move to the west into the new states and take thier slaves with them.So Option C is one of the primary reason .Also productivity of the south is increasing as more and more agricultural advancemnt is going on which require more worker and moe production compared to northerners.So Option D is also correct .Also capital in the north is subject to diminishing returns because, of the investment in those business in which few year later the return will start to decrease where as in south the increased return will be seen .That is why Option B is also correct .Hence Option B,C,D are correct .

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