PCC Home youtube N Netflix amazon mcte Help Save & a. According to economic hist
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PCC Home youtube N Netflix amazon mcte Help Save & a. According to economic historians, modern economic growth first happened in 1776, when Scottish inventor James Watt perfected a powerful and efficient steam engine O 1701, when Jethro Tull Invented the seed drill. 1765, when Ell Whitney invented the cotton gin. 1776, when the American colonies declared their freedom. b. Which of the following are among the major institutional structures that form the foundation for modern economic growth? O Strong property rights, patents and copyrights, efficient financial institutions, iteracy and widespread education free trade, and a competitive market system. Literacy and widespread education, free trade, a competitive market system, and free public health care. Patents and copyrights, free trade, free public health care, environmental protection, and a competitive market system Strong property rights, patents and copyrights, environme ntal protection, and efficient financial institutions. growth? c. What are the characteristics of the major institutional structures that form the foundation for modern economic They increase seving and investment, ensure that the labor force is paid fairly, and encourage international trade They ensure that the labor force is paid fairly, encourage international trade, and promote the development of new technologies. They increase saving and investment, promote the development of new technologies, and ensure that resources flow PreX 10of14= Next 20Explanation / Answer
Answer:
a. According to Economic historians, modern economic growth first happened in 1776, when inventor James Watt perfected a powerful and efficient steam engine.
Explanation: The introduction of the steam engine has had a profound impact on the trajectory of economic and cultural development throughout the world.
B. Option A. Strong property rights, patents and copyrights,efficient financial institutions, literacy and widespread education, free trade and a competitive market system.
Explanation: Institutions work on the incentive structure in an economy and explain why some countries are growing faster than others. Both institutions and the incentives they offer affect the improvement of long-term growth.
C. Option C. They increase saving promote development of new technologies and ensures that resources flow efficiently.
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