During the Last Two Decades of the Twentieth Century

question 65

Multiple Choice

During the last two decades of the twentieth century:

• A) The poor and the middle-class became worse off, while the rich became significantly richer.
• B) There was a significant rise in real income among working-class Americans.
• C) Americans saved more and invested less.
• D) America entered a profound recession, the likes of which not been seen since the 1930s.

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Definitions:

Prepaids Insurance

Expenses paid in advance for insurance coverage, recognized as assets until the coverage period lapses.

Fixed Manufacturing

Costs that do not vary with the volume of production, including rent, salaries of permanent staff, and equipment depreciation.

Average Costs

Calculated by dividing total costs by the total number of units produced, indicating the cost on a per-unit basis.

Produced Units

The number of units of a product that have been completed by a manufacturing process during a specific period.