Please read the description and identify which region the text is referring to.Historically, this region has suffered from extreme poverty, which continuesto this day. Growth has been effectively zero since the 1960s. Problems suchas political instability, poor public health, and a lack of effective institutionshave all contributed to its stagnation.Until the middle of the last century, these countries were relatively poor.Beginning in the mid 1970s, real GDP per capita growth has averaged 6% peryear. The growth was achieved, in part, because of high levels ofinvestment spending in the development of human and physical capital, andrapid technological progress.In the early 1990s, this region was in the middle of substantial social andeconomic reform. Countries in this region have experienced variable growthrates, depending on their ability to adapt to the modern market economy.In the early 20th century, this region was reasonably prosperous. Since thattime, however, growth has stagnated, owing to government instability,banking failures and run-away inflation. Recently, some countries in theregion have begun to grow more consistently, with one country becoming apowerhouse of world economic development.Answer BankEuropean transition economiesSouth AmericaWestern EuropeL North AmericaSNorth AfricaJAsian Tigerssub-Saharan AfricaSouth Africa

Please read the description and identify which region the text is referring to. Historically, this region has suffered from extreme poverty, which continues to this day. Growth has been effectively zero since the 1960s. Problems such as political instability, poor public health, and a lack of effective institutions have all contributed to its stagnation. Until the middle of the last century, these countries were relatively poor. Beginning in the mid 1970s, real GDP per capita growth has averaged 6% per year. The growth was achieved, in part, because of high levels of investment spending in the development of human and physical capital, and

Please read the description and identify which region the text is referring to. Historically, this region has suffered from extreme poverty, which continues to this day. Growth has been effectively zero since the 1960s. Problems such as political instability, poor public health, and a lack of effective institutions have all contributed to its stagnation. Until the middle of the last century, these countries were relatively poor. Beginning in the mid 1970s, real GDP per capita growth has averaged 6% per year. The growth was achieved, in part, because of high levels of investment spending in the development of human and physical capital, and

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Chapter1: Making Economics Decisions

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Question

Please read the description and identify which region the text is referring to.
Historically, this region has suffered from extreme poverty, which continues
to this day. Growth has been effectively zero since the 1960s. Problems such
as political instability, poor public health, and a lack of effective institutions
have all contributed to its stagnation.
Until the middle of the last century, these countries were relatively poor.
Beginning in the mid 1970s, real GDP per capita growth has averaged 6% per
year. The growth was achieved, in part, because of high levels of
investment spending in the development of human and physical capital, and
rapid technological progress.
In the early 1990s, this region was in the middle of substantial social and
economic reform. Countries in this region have experienced variable growth
rates, depending on their ability to adapt to the modern market economy.
In the early 20th century, this region was reasonably prosperous. Since that
time, however, growth has stagnated, owing to government instability,
banking failures and run-away inflation. Recently, some countries in the
region have begun to grow more consistently, with one country becoming a
powerhouse of world economic development.
Answer Bank
European transition economies
South America
Western Europe
L North America
SNorth Africa
JAsian Tigers
sub-Saharan Africa
South Africa

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