Although Technological Developments Were Important, the Early Atlantic Voyages Were

question 13

True/False

Although technological developments were important, the early Atlantic voyages were aided more by the steady accumulation of practical knowledge that sailors accumulated than by technological innovation.

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Definitions:

Per Capita Real GDP

A measure of the average economic output per person, adjusted for inflation, in a specific area.

Population

Population refers to the total number of people living in a particular area or country at a specific time.

GDP Deflator

An economic metric that converts output measured at current prices into constant-dollar GDP, essentially adjusting for inflation and allowing for comparisons across time periods by reflecting the prices of all goods and services produced domestically.

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy in a year, used to deflate nominal GDP to real GDP.