The Goldin and Lewis (1975) study of the costs of the Civil War:
a. finds peaceful abolition of slavery would have been more costly than the War.
b. fails to include an estimate for the loss of human capital due to the War.
c. estimates the total cost of the War at more than double national income in 1860.
d. finds Northern property damage to be a major factor in the War's cost.
Question 2
Which statement most accurately describes the distribution of income among US families?
a. In 2005, as in most of American history, poor people work on average many more hours than do high-income people.
b. The median real family income has remained about the same since 1970.
c. One of the most significant determinants of income inequality in the US has been the increase in demand for highly trained labor.
d. Earnings of married-couple families have grown more slowly than earnings of both male and female households with no spouse.
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