The Standard of Living (Measured by What One Can Purchase

question 7

Multiple Choice

The standard of living (measured by what one can purchase with after-tax income) of free Americans on the eve of the Revolution was ______.

• A)lower than in 18ᵗʰ century England,and lower than for most people in the "Third World" today.
• B)higher than in 18ᵗʰ -century England,and higher than for most people in the "Third World" today.
• C)lower than in 18ᵗʰ century England,but higher than for most people in the "Third World" today.
• D)higher than in 18ᵗʰ century England,but lower than for most people in the "Third World" today.

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Definitions:

Cultures

The collective beliefs, customs, practices, and social behavior of a particular group of people or society.

Tune Out Noise

The act of ignoring irrelevant or distracting information to focus on the important content.

Making Assumptions

The process of forming conclusions or beliefs without having all the necessary information or evidence.

Rational Advice

Guidance or recommendations based on logical reasoning and factual analysis.