The arguments of Kessel and Alchien (1959) on the terms of trade and t
The arguments of Kessel and Alchien (1959) on the terms of trade and the question of “who paid for the Civil War (1861–1865)” conclude that 40 percent of the war’s burden fell on
(a) those who exported manufactures.
(b) those who purchased imports.
(c) farmers alone.
(d) the economy as a whole.
ANSWER
(b)
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