The Period of Time from 1,000,000 B

question 143

Multiple Choice

The period of time from 1,000,000 B.C.to 1300 A.D.was a period of

• A)no sustained economic growth.
• B)slow and steady economic growth.
• C)moderate economic growth.
• D)rapid and sustained economic growth.

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Definitions:

Tariff

A tax imposed on imported goods and services to protect domestic industries or raise government revenue.

Opportunity Cost

The forfeiture of potential benefits from other options when a particular choice is made.

Protective Tariffs

Tariffs imposed by a government to protect domestic industries from foreign competition by raising the price of imported goods.

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a person, group, or society.