"Redistributing income in order to have a more equal distribution in the United States would result in a higher level of total consumer satisfaction." This statement is based on the concept that:

Refer to Figure 11-5. Based on the "catch-up line" drawn above, poorer countries are more likely to be at a point like ________, where growth in GDP is relatively ________, while richer countries are more likely to be at a point like ________,

growth in GDP is relatively ________. A) B; low; A; high B) B; high; A; low C) A; high; B; low D) A; low; B; high

Economic theory suggests that the standard of living of American workers would rise if

a. the minimum wage were doubled. b. the knowledge and skills of workers improved. c. older workers were forced to retire earlier, opening up jobs for younger workers. d. technological setbacks lowered output per worker hour, increasing the number of jobs.