Over the Long Run, Per Capita Incomes in Different Regions

question 15

Multiple Choice

Over the long run, per capita incomes in different regions of the United States have

• A) gradually diverged with the Northeastern region leading all other income groups.
• B) gradually converged.
• C) gradually converged until roughly 1985, and then diverged as the Western states outpaced other regions.
• D) have converged, with the exception of the South.

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Definitions:

U.S. Tariff

A tax imposed by the United States government on imported or, less commonly, exported goods.

Oil

A viscous liquid derived from petroleum, mainly used for fuel, heating, and lubrication.

Imports

Products or services imported into a country from overseas for the purpose of selling.

Price

The funds expected, demanded, or provided in exchange for a particular good or service.