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

Question

Quizplus · Accepted Answer

Kessel and Alchien argue that the terms of trade shifted against the United States during the Civil War, resulting in higher prices for imports. As a result, consumers who purchased those imports (choice B) bore a significant portion of the war's burden. The other options (A, C, and D) are not supported by their arguments.

The Arguments of Kessel and Alchien (1959)on the Terms of Trade