Over the Course of the Last Century,the Extent of Global

question 37

Multiple Choice

Over the course of the last century,the extent of global economic inequality has

• A)decreased sharply.
• B)stayed about the same.
• C)increased.
• D)become smaller,but not by much.

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Definitions:

Utility Analysis

An approach in economics that assesses the satisfaction or benefit a consumer receives from consuming goods or services.

Numerically Measurable

Characteristics or quantities that can be quantified or expressed using numbers.

Budget Line

A graphical representation of all possible combinations of two goods or services that a consumer can afford given their income and the prices of the goods, reflecting budgetary constraints.

Price

The amount of money required to purchase a good or service, determined by factors such as supply, demand, and production costs.