From the late 17th century to the early 19th century, the economy of the Northeast went through a process in which specialized and industrial activ...

From the late 17th century to the early 19th century, the economy of the Northeast went through a process in which specialized and industrial activities were replaced by a subsistence economy that caused a setback in terms of income and development. Regarding this, it is correct to state that:

I – The decrease in population helped maintain the income level.
II - The decrease in the price of sugar affected the sugar industry and livestock.
III - As a subsistence activity, livestock continued to increase the herd and labor force.
IV - The effects caused by the deindustrialization of the Northeast in this period have consequences that can still be observed today.
a. Only statements I and II are correct.
b. Only statements I, II, and III are correct.
c. Only statements II, III, and IV are correct.
d. Only statements II and IV are correct.
e. Only statements I, III, and IV are correct.