The phrase "reversal of fortunes" refers to the fact that:
A) colonies that were existing in 1500, are now no longer colonies and are independent nations.
B) areas that were relatively highly urbanized in 1500, are generally poorer today.
C) colonies that were existing in 1500, have all recorded negative growth rate over the last century.
D) areas that were relatively less urbanized in 1500, are generally poorer today.
B
You might also like to view...
Using the data in the above table, and assuming constant opportunity costs, it is likely that
A) the United States will import food. B) Mexico will export cloth. C) the United States will export both cloth and food. D) Mexico will export both cloth and food.
The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.