Real income per person was the same until:
A. the 1800s, when the Industrial Revolution caused it to grow.
B. the 1500s, when the Renaissance caused it to grow.
C. the 1900s, when wireless technology caused it to grow.
D. Real income per person has been roughly the same for the last three centuries.
A. the 1800s, when the Industrial Revolution caused it to grow.
Economics
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The profit that a monopolist earns represents a loss to society that is measured through deadweight loss
a. True b. False Indicate whether the statement is true or false
Economics
When each person specializes in producing the good in which he or she has a comparative advantage, total production in the economy
a. falls. b. stays the same. c. rises. d. may fall, rise, or stay the same.
Economics