The Reason U

question 28

Multiple Choice

The reason U.S.workers were better paid than foreign workers during the 1950s and 1960s is

• A)U.S.workers were better trained and educated.
• B)U.S.workers worked harder.
• C)we had more capital (plant and equipment)per worker.
• D)the U.S.dollar was the world's strongest currency.

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Definitions:

Deficits

Financial situations that occur when a government's expenditures surpass its revenues within a specified period, leading to borrowing or debt accumulation.

Tax Plan

A government's proposal or strategy regarding how to collect and manage taxes, including changes in tax rates, tax credits, and deductions.

Income Taxes

Taxes levied by the government directly on personal, or corporate income.

Budget Surplus

A situation where income or receipts exceed outlays or expenditures over a specific period, commonly used in the context of government budgets.