Use the information below to answer the following questions.
Fact 22.2.1
China was the largest economy for centuries because everyone had the same type of economy-subsistence-and so the country with the most people would be economically biggest. Then the Industrial Revolution sent the West on a more prosperous path. Now the world is returning to a common economy, this time technology- and information-based, so once again population triumphs.
-Consider Fact 22.2.1. In 1890, the United States surpassed China to become the world's largest economy because
A) the benefits of the Industrial Revolution were greater in the United States than in China.
B) the United states was a strong, united country following the Civil War and reconstruction.
C) the U.S. population growth rate was much lower than China's population growth rate.
D) the U.S. population exceeded China's population.
E) China began to import a significant portion of life-sustaining goods and services.
Correct Answer:
Verified
Q21: If the money wage rate is $10.00
Q22: During the last 10 years, which of
Q23: Use the figure below to answer the
Q24: The aggregate production function is graphed as
A)a
Q25: If the money wage rate is $15.00
Q27: Between 1926 and 2014, the average growth
Q28: An increase in labour hours will lead
Q29: Between 1926 and 2014 real GDP per
Q30: Convergence between real GDP per person in
Q31: The decreasing slope of the aggregate production
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