1. Falling shipping costs over the 16th and 17th centuries, had which of the following effects (all else equal)? Select all that apply.

Group of answer choices

higher real wages in America

lower supply of indentured servants

None of these!

higher price of slaves

lower retail prices in America

2. "Slavery was more likely to be used in industries where turnover costs were relatively higher."

Group of answer choices

True

False

3. "Technological change drove the Great Merger Wave."

Group of answer choices

True

False

4. Consider a colonial labor market that uses slavery. As labor demand falls, the wages of free labor ___.

Group of answer choices

remain unchanged

rise

fall

5. Consider the Solow model. Which of the following increase the stead-state level of per captia income, all else equal? Select all that apply.

Group of answer choices

Decreased savings rate

Increased total factor productivity

Decreased population growth rate

Decreased population

Increased capital-labor ratio