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 more government regulations.
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 more government regulations.
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter2: The Economy: Myth And Reality
Section: Chapter Questions
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![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 more government regulations.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fefb2cbb9-5bd8-4117-b0cd-d94ec38f1796%2Fb938ceef-59d3-41e3-ab18-9e6fbe1d88ca%2Fzaz7mk2_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 more government regulations.
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