Kuznets Hypothesized That Inequality of Wealth and Income Increases During

question 22

Multiple Choice

Kuznets hypothesized that inequality of wealth and income increases during the early phases of economic development, stabilizes for awhile, then

• A) decreases in the later phases of economic development.
• B) begins increasing again.
• C) becomes erratic and unpredictable.
• D) disappears completely.
• E) retroactively affects the wealthy.

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Definitions:

Product Life Cycle

The series of stages that a product goes through from conception, through design and manufacture, to service and disposal including introduction, growth, maturity, and decline.

Drive-Thru Restaurants

Food service establishments that allow customers to order and receive food without leaving their vehicles, aiming for convenience and speed of service.

Low-Cost Leadership

A business strategy where a company becomes the lowest cost producer in its industry without sacrificing quality.