Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

American textile companies made up two - thirds of all corporations valued over 1 0 0 , 0 0 0 dollars in 1 8 3

American textile companies made up two-thirds of all corporations valued over 100,000 dollars in 1832. Why were textile mills so profitable?
a. they used cotton sourced from the free labor of slaves, undercutting other textile producers on the market
b. they made deals with British merchants to have priority in European markets
c. their owners played the stock market and reaped substantial profits
d. the British and French textile manufacturers never recovered from the Napoleonic Wars
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mostly Harmless Econometrics An Empiricist's Companion

Authors: J D Angrist, Joshua D Angrist

1st Edition

0691120358, 9780691120355

More Books

Students also viewed these Economics questions

Question

2. Identify conflict triggers in yourself and others

Answered: 1 week ago