The Standard of Living (Measured by What One Can Purchase

Multiple Choice

The standard of living (measured by what one can purchase with after-tax income) of free Americans on the eve of the Revolution was ______.

A) lower than in 18^th century England, and lower than for most people in the "Third World" today.
B) higher than in 18^th -century England, and higher than for most people in the "Third World" today.
C) lower than in 18^th century England, but higher than for most people in the "Third World" today.
D) higher than in 18^th century England, but lower than for most people in the "Third World" today.