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.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 4P

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