From 1860 to 1910, international net capital flow into the U.S. (a) w

From 1860 to 1910, international net capital flow into the U.S.

(a) was positive when the U.S. economy expanded.
(b) was neutral and not influenced by the U.S. business cycle.
(c) was negative when the U.S. economy grew.
(d) was positively impacted by U.S. discussions about and actual restrictions
on immigration.

ANSWER

(a)