Which of the following statements is true of economic growth and GDP across the world before 1800?

Question

Quizplus · Accepted Answer

Before 1800, there was a lack of sustained economic growth because the pace of technological change was slow. This meant that increases in GDP were often offset by population growth or other factors, leading to little overall improvement in income per capita. Additionally, income per capita in almost all countries was less than $500 per capita, with only a few outliers like England and the Netherlands experiencing slightly higher levels of income. Finally, while some improvements in GDP may have been invested in capital equipment, this was not the primary driver of economic growth before the Industrial Revolution.

Which of the Following Statements Is True of Economic Growth