Principles of Macroeconomics, Loose-Leaf Version
Principles of Macroeconomics, Loose-Leaf Version
8th Edition
ISBN: 9781337096881
Author: Mankiw, N. Gregory
Publisher: South-Western College Pub
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Chapter 1.2, Problem 2QQ
To determine

Thetrade and specialization.

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1.What best explains the “Rise of the West” that is, the economic, political andmilitary ascendancy of Western Europe and its offshoots (United States etc) inthe world economy after 1800? Discuss.2.“The Industrial Revolution that began around 1800 has been the biggest andfastest transformation of production in the entire history of the world.” Discuss.3.“The roots of both modern global economic prosperity and poverty (the so­calledGreat Divergence) are in the Industrial Revolution that began in the late 18thcentury.” Discuss.4.“The rise of the industrial economies based on technological progress and theIndustrial Revolution since 1800 is the central event of modern history. Nothingelse even comes close. This has affected the world in this period more than allother social and political changes taken together.” Discuss.5.Have the economic and…
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5. Is globalization leading to cultural convergence (i.e., grow similar over time)? If so how?
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