The Following Questions Refer to the Image Below

question 45

Multiple Choice

The following questions refer to the image below.

Miscellaneous Items in High Demand/Library of Congress
-Which of the following resulted from the kind of world depicted in the engraving?

• A) Increases in manufacturing led to a decline in standard of living.
• B) Racially mixed populations developed into a highly stratified caste system.
• C) Slave revolts led to numerous democracies flourishing in the West Indies.
• D) Sugar production was the only source of wealth in the West Indies.

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Definitions:

Diagram (A)

A graphical representation used to illustrate or clarify information, processes, or systems.

Price

The amount of money expected, required, or given in exchange for something else.

Quantity

The amount or number of a material or immaterial good considered as a unit or in total.

Long-Run Cost Diagram

A graphical representation that shows how the costs incurred by a firm change over time with varying levels of output when all inputs are variable.