In the 1770s the per capita income in the colonies:
a. was higher than the per capita income in developing countries today.
b. was significantly lower than the per capita income in England during the same period.
c. was impossible to determine due to inaccurate and incomplete data.
d. was lower than the current per capita income in developing countries..
a. was better than the quality of life in developing countries today.
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Following Keynesian economics, and assuming a marginal propensity to consume (MPC) of 0.75, an increase in taxes of $100 billion would be expected to shift the aggregate demand curve by $300 billion to the left
a. True b. False Indicate whether the statement is true or false
Within the U.S. population, women of prime working age (ages 25-54) have similar rates of labor-force participation than men of prime working age (ages 25-54), regardless of race
a. True b. False Indicate whether the statement is true or false