In 1950,Nicaragua and Brazil Had Roughly the Same Size Economies

question 150

Multiple Choice

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

• A) Brazil had almost no trade with other countries.
• B) Nicaragua had higher taxes and government spending.
• C) Brazil had better resources and technology.
• D) Nicaragua had many more government regulations.
• E) Brazil had no public school system and used private schools instead.

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Definitions:

Inventory

The total amount of goods and materials a business holds for the ultimate goal of resale or production.

GDP

Gross Domestic Product, a measure of the economic output of a country, considered by calculating the total value of all final goods and services produced within that country over a specified period.

Disposable Personal Income

The total income households have after taxes and other deductions, available for spending, saving, or investment.

Non-tax Payments

Fees or charges paid to the government that are not considered taxes, such as fines, licenses, or charges for public services.