If Society Wishes to Increase Living Standards While Minimizing Sacrifices

question 48

Multiple Choice

If society wishes to increase living standards while minimizing sacrifices of present consumption, it should encourage:

• A) growth in the labor supply.
• B) growth in capital.
• C) decreases in capital.
• D) technological improvement.

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Definitions:

Slave Trade

The historical trade involving the capture, transport, and sale of human beings as slaves, particularly associated with the transatlantic trade from Africa to the Americas from the 16th to the 19th centuries.

Africans

Refers to the people native to the African continent, encompassing a wide range of cultures, ethnicities, and nations.

Americas

A collective term for the continents of North America and South America, including all its countries and regions.

Negros De Ganhos

A term from Brazilian history referring to enslaved Africans who were allowed to work for their own earnings, albeit under conditions set by slaveholders.