The correct answer is 4. The industrial and manufacturing areas thrived.
The Union's economic structure thrived during the Civil War due to the amount of resources needed by Union troops. The development of guns, ammunition, warships, clothes, and other materials for the troops were all reliant on industrialization and manufacturing. The demand for these types of goods encouraged business owners to make these products at a rapid pace so that they could generate a large profit. This is why industry and manufacturing thrive during the Civil War.
If<span> the minimum wage is increased to go above the equilibrium price of labor, </span><span>it could result in a fall in demand for workers and an excess in the supply of workers. While </span><span>those who already have jobs are now earning a higher wage, there are some who no longer have jobs, since companies are reluctant to employ newer workers. So this may also result in unemployment. </span>
