What does Simon Kuznet’s (1958) study on the U.S. economy show?
(a) Short swings in the U.S. business cycles but steady, stable growth in
Real Gross Domestic Product
(b) Immigrants to the U.S. were attracted by the secular increases in U.S. real wages
and incomes
(c) A decrease, not increase, in net U.S. migration from 1860 to 1910
(d) No movement in capital, only humans, across the Atlantic economy
from 1860 to 1910
ANSWER
(b)
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