While It Does Not Apply in Every Case, Modernization Theory

question 99

Multiple Choice

While it does not apply in every case, modernization theory does help explain how became successful through an emphasis on a national work ethic.

• A) Brazil
• B) Japan
• C) the United States
• D) Indonesia

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Definitions:

Economy Growth

An increase in the economic output and productivity of a country, often measured by its gross domestic product (GDP) over time.

Investment Bank

A financial institution that assists individuals, corporations, and governments in raising financial capital by underwriting or acting as the client's agent in the issuance of securities.

Federal Budget Deficits

The shortfall that occurs when the U.S. government's expenditures exceed its revenues within a fiscal year.

Interest Rates

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.