Which of the Following Explains Why Industrialization First Occurred in Europe

question 10

Multiple Choice

Which of the following explains why industrialization first occurred in Europe?

• A) Europe had an unchallenged economic advantage over all other regions by 1750.
• B) Europe possessed a unique capacity for technological innovation.
• C) European rulers fostered unusually close alliances with their merchant classes.
• D) Europe was the only region that had commercialized economies in 1750.

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Definitions:

Fiscal Year

Budget year. U.S. federal budget fiscal year begins on October 1.

Automatic Stabilizers

Economic policies and programs, like unemployment benefits and progressive taxation, that automatically help stabilize economic fluctuations without direct governmental intervention.

Economic Recovery

A period of increasing business activity signaling the end of a recession, marked by a rise in GDP, employment, and consumer spending.

Transfer Payments

These are payments made by the government to individuals or other entities without expecting any goods or services in return, such as social security benefits or unemployment compensation.