In 1950,Brazil's economy was roughly the same size as Nicaragua's.Today,Brazil's economy is almost five times as large as Nicaragua's.Which of the following best explains this difference?
A) Nicaragua was too reliant on foreign aid, whereas Brazil was far more economically independent.
B) Brazil greatly limited international trade, whereas Nicaragua opened its borders to imports and exports.
C) Brazil supported institutions like property rights, which tend to foster growth, whereas Nicaragua did not.
D) Brazil's economy was largely agricultural, whereas Nicaragua's was industrial.
E) Nicaragua had excessively high tax rates, but Brazil kept its taxes low and competitive.
Correct Answer:
Verified
Q105: Which of the following factors is positively
Q108: What is the relationship between institutions,such as
Q119: Many police officers in Mexico have been
Q131: The nation of Singapore has no natural
Q135: Recently,Greece underwent an economic crisis.Although there are
Q136: In 1950,residents in Liberia were wealthier than
Q142: How did institutions promote economic growth during
Q143: Why is it necessary to adjust changes
Q158: Define "economic growth," and explain what it
Q159: How would an increase in capital goods,holding
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents