« previous next »

Author Question: What was the main cause for the reversal-of-fortune of many countries? What will be an ideal ... (Read 42 times)

jon_i

  • Hero Member
  • *****
  • Posts: 549
on: Jun 30, 2018
What was the main cause for the reversal-of-fortune of many countries?
 
  What will be an ideal response?

Question 2

Aggregate demand refers to the relationship between
 
  A) the price level and the quantity of real GDP supplied.
  B) prices and the quantity of a good supplied.
  C) the price level and the quantity of real GDP demanded.
  D) prices and the quantity of a good demanded.


vickybb89

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 30, 2018
Answer to Question 1

The reversal-of-fortune can be attributed to the nature of the institutions set up in European colonies around the world. European colonialism was driven by profit motive, and hence, they set up extractive institutions in places that were previously more developed. This drained out the economic prosperity from these well-performing nations and reversed their fortunes. On the other hand, inclusive institutions were set up in places that were previously less developed. This encouraged growth and reversed their fortunes.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Main symptoms of AIDS Main symptoms of AIDS
Pre–Main-Sequence Evolutionary Tracks Pre–Main-Sequence Evolutionary Tracks
Divorce Rates, Selected Countries In many countries divorce rates have risen in recent decades. Divorce Rates, Selected Countries In many countries divorce rates have risen in recent decades.
Andrea Palladio, Plan of main floor (piano nobile), Villa La Rotunda. Andrea Palladio, Plan of main floor (piano nobile), Villa La Rotunda.
With a fortune of $66 billion, Bill Gates, a cofounder of Microsoft Corporation, is the second ... With a fortune of $66 billion, Bill Gates, a cofounder of Microsoft Corporation, is the second ...
Newly Industrialized Countries Newly Industrialized Countries
Video: ETC Protein Complexes & Chemiosmosis (Total ATP Production and ATP Synthase)

For a complete list of videos, visit our video library