With regard to the subject matter of American economic history, Hughes and Cain (2011) suggest that
(a) the presence of the highest living standards known in world history supports the claim that American history is largely a "success story."
(b) the American economy is an economy with only successes but no failures.
(c) U.S. history provides a fragmented record of problem-solving and problem-producing
solutions to the challenges of economic development.
(d) there is no link between today's economy and the economy of yesteryear.
(a)
You might also like to view...
Everything else remaining unchanged, what is likely to happen to the credit supply curve of households if:
a. there is a decrease in the real interest rate? b. households expect a recession in near future? What will be an ideal response?
What is the meaning of the term "marginal rate of substitution"?
What will be an ideal response?