Which of the Following Statements Best Describes the Average Standard

question 68

Multiple Choice

Which of the following statements best describes the average standard of living for much of human history,prior to the Industrial Revolution?

• A) There were no rich people; everyone earned the same income.
• B) Average income around the world was basically unchanged for centuries.
• C) Total income around the world was basically unchanged for centuries.
• D) There were no class differences across nations.
• E) The vast majority of people were wealthy,with only a few earning subsistence wages.

---

Definitions:

Controlling Stock Interest

Ownership of a sufficient amount of shares in a company to dictate policy and manage company affairs.

Merger

The combination of two or more companies into a single entity, usually with the aim of enhancing competitiveness or expanding market share.

Revised Model Act

An updated or modified version of legislation that serves as a template for laws across different jurisdictions.

Shareholder Vote

A decision-making process where shareholders of a company vote on corporate matters, reflecting their ownership stake.