The Earnings of Workers of Color

question 34

Multiple Choice

The earnings of workers of color

• A) were based on the principle of the "family wage."
• B) tended to assume that not only would men work, but also women and children.
• C) were based on the higher cost of living forced on people of color.
• D) were based on the idea that these workers were poor at managing money.

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Definitions:

Interest Rates

Interest rates are the cost of borrowing money or the reward for saving, typically expressed as a percentage of the principal amount per annum.

Economic Thought

The study and contemplation of various theories, models, and approaches regarding the functioning of economies and economic behavior.

Economic Thought

The progression and development of ideas and theories about how economies operate, evolving over time from ancient to modern paradigms.

Classical Economics

An economic theory advocating for minimal government intervention in the market, emphasizing free-markets and the idea that markets naturally tend towards equilibrium.