In 1950, Nicaragua and Brazil had roughly the same size economies. Now, Brazil's economy is almost five times as large as Nicaragua's. This is most likely because Brazil had better resources and technology. Brazil had no public school system and used private schools instead. Nicaragua had higher taxes and government spending. Nicaragua had many mor

In 1950, Nicaragua and Brazil had roughly the same size economies. Now, Brazil's economy is almost five times as large as Nicaragua's. This is most likely because Brazil had better resources and technology. Brazil had no public school system and used private schools instead. Nicaragua had higher taxes and government spending. Nicaragua had many mor

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter2: The Economy: Myth And Reality

Section: Chapter Questions

Problem 1DQ

See similar textbooks

Similar questions

Compare and contrast the governments and economies of North Korea and South Korea.
How does the Japanese economic system differ from the American economic system in terms of the relationship between state and industry? Explain in detail.
True or false? The European Union seeks to reduce its regional economic disparities by having wealthy regions provide economic subsidies and loans to poorer regions.
Radio is one of the easiest and cheapest media sources. It is easily available in most part of the country. The biggest advantage of the radio as a means of media globalization is that it can be understood by even an illiterate person and can cater to a larger number of people. give me another explanation about this
Businesses in Finland sell a wide variety of products with manufacturing, woods, telecommunications, metals, engineering, and electronics being the primary exports. Businesses are free to sell any legal product they want in any manner they desire as long as it does not violate any laws or ordinances. The nation has a very liberal welfare policy with most citizens, even at an early age, receiving monthly pension checks from the government. What type of economic system is employed in Finland?
A nation's ability to produce a product more efficiently than another country is referred to as globalization. foreign trade. interdependence. comparative advantage.
Describe the economic system of the United States of America.Explain one advantage and one disadvantage of the US economy.
Summarize the twelve economic pillars of (the selected country) CHILE. First pillar: The institutional environment Second pillar: Broad and efficient infrastructure Third pillar: Macroeconomic stability Fourth pillar: Health and primary education Fifth pillar: Higher education and quality training in higher education. Sixth pillar: The efficiency of the merchandise market in efficient countries. Seventh pillar: The efficiency of the labor market Eighth pillar: The sophistication of the financial market Ninth pillar: technological provision Tenth pillar: The size of the market Eleventh pillar: Sophistication of business Twelfth pillar: Innovation Use two additional sources of references and at least five (5) of the concepts to expand the information. Example: Microeconomic, Macroeconomic, Foreign Investment, Tariffs, International Monetary Fund, World Trade Organization, among others. Analyze…
That a rich country like Germany has such a small ratio of imports to GDP as compared to Belgium is the evidence of geography. Please explain
As a result of trade between two countries which are of completely different economic sizes, specialization in the Ricardian 2X2 model tends to be complete in the small country but incomplete in the large country. be incomplete in both countries. be complete in both countries. isustain one countries economy in in direct proportion to the other. be complete in the large country but incomplete in the small country.
Which of the following is the best example of how a country might improve what economists call institutions? the government used to control the prices of many goods and now allows them to move up and down. judges become more independent from the government businesses in the country improved their labor productivity
What makes China as a Communist country, opens its economy to different Multi-national Corporations by allowing Apple Inc, McDonalds, Coca-Cola, KFC to invest and operate their business?