What Was the Most Striking Feature About Income in the Period

question 36

Multiple Choice

What was the most striking feature about income in the period 1800-1850?

• A) It was evenly distributed.
• B) There was a growing gap between rich and poor.
• C) The gap between rich and poor narrowed.
• D) Per capita income remained stable.

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Definitions:

Functional Currency

The primary currency of the main economic environment in which an entity operates.

Asset And Liability Account Balances

The respective values of a company's current and non-current assets, and its current and long-term liabilities at a point in time.

Local Currency

Refers to the legal tender or official currency that is used within a country's borders.