Which of the following is the least accurate statement?
a. GNP grew very slowly during the colonial period.
b. The South's economic performance was very poor after the Civil War.
c. Wealth in the colonial US was very equal because there had not been enough time for people to acquire significantly different levels of wealth.
d. Wage inequality has increased since 1970.
c. Wealth in the colonial US was very equal because there had not been enough time for people to acquire significantly different levels of wealth.
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When a rich nation buys a product made in a poor nation, in the poor nation the demand for labor ________ and the wage rate ________
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls
After the American Revolution concluded, what did the English do?
(a) They withdrew all investments in colonial America. (b) They continued investing in colonial America. (c) They discouraged individuals in other countries from investing in colonial America. (d) They did none of the above.
Choose the letter below that best represents the type of shift that would occur in the following situation in the United States: When the economy overheated, the U.S. government cooled it down with higher taxes, spending reductions, and less money. (See Figure 8.6.)
A. A. B. B. C. C. D. D.
What are some of the main advantages and disadvantages of the extensive financial and commercial networks linking nations today?
What will be an ideal response?