Growth in real GDP per capita has:
A. slowed since the mid-nineteenth century compared to before.
B. been steady over the course of human history.
C. increased over the last 150 years only in the United States and Canada.
D. been more rapid since the mid-nineteenth century than ever before.
Answer: D
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With specialization
A) opportunity costs tend to be constant. B) there are greater gains in material well being. C) there is more emphasis on self-reliance. D) society is more productive while individuals are less productive.
Although the McNary-Haugen bill never became law, it was widely discussed during the 1920s. Which of the following was NOT a provision of the bill?
a. government purchase of crops in order to raise agricultural prices b. government sale of excess crops on the world market c. payment for the program through capital gains taxes on business d. high tariffs on agricultural imports e. All of the above were provisions of the McNary-Haugen Bill.