Question

In: Economics

Differences in the stock of technology between nations are an example of a(n) ________. Group of...

Differences in the stock of technology between nations are an example of a(n) ________.

Group of answer choices

fundamental cause of prosperity

proximate cause of prosperity

explicit cause of prosperity

implicit cause of prosperity

The ________ claims that the way societies have organized themselves and shaped the incentives of individuals and businesses are at the root of the differences in prosperity across the world.

institutions hypothesis

culture hypothesis

geography hypothesis

location hypothesis

The ________ hypothesis claims that differences in natural environment, such as climate and ecology, are ultimately responsible for the major differences in prosperity observed around the world.

ecology

location

geography

climate

Countries in sub-Saharan Africa are economically disadvantaged because infectious diseases spread in these countries relatively easily. This statement reflects the ________.

culture hypothesis

location hypothesis

geography hypothesis

institutions hypothesis

Solutions

Expert Solution

1). As we know different nation's have different types of technologies which they use to produce goods. The technology is especially capital intensive. The fundamental difference in technology is due to proximate cause of prosperity.

The correct option is (b).

Proximate cause of prosperity.

2). The correct option is (a).

Institutions hypothesis.

It claims that differences in the way societies organize themselves and shape the incentives of individuals and businesses (so-called economic rules of the game) are ultimately responsible for the large differences in prosperity observed around the globe.

3). The correct option is (c).

Geography.

It states that, differences in geography, climate, and ecology are ultimately responsible for the large differences in prosperity observed around the globe
-economies with low levels of GDP per capita are located in tropical areas, while those with high levels are in temperate areas.

4). The correct option is (c).

Geography hypothesis.

Hope you got the answer.

Kindly comment for further explanation.

Thanks ?


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