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Why Britain

1.[2p]

What is the common signature of the machines invented in Britain in this period?

Correct
The answer is: They saved labour and consumed large quantities of fuel
The answer is: They saved labour and consumed large quantities of fuel
The answer is: They saved labour and consumed large quantities of fuel

2.[2p]

A machine costs £70 and replaces two spinners earning £10 a year each. What is the annual rate of return on buying it, in per cent?

CorrectNot quite: 28.6

3.[2p]

The same £70 machine replaces two spinners earning £2 a year each. What is the rate of return now, in per cent?

CorrectNot quite: 5.7

4.[3p]

Match each explanation to the historian most associated with it.

  • High wages and cheap coal

  • The Industrial Enlightenment

  • Credible commitment after 1688

  • Coal and ghost acreage

  • Joel Mokyr

  • Kenneth Pomeranz

  • Robert Allen

  • Douglass North

Show the answer

High wages and cheap coal: Robert Allen The Industrial Enlightenment: Joel Mokyr Credible commitment after 1688: Douglass North Coal and ghost acreage: Kenneth Pomeranz

5.[3p]

Why is the Netherlands a useful test case?

Correct
The answer is: It had the institutions, wages and knowledge but not the cheap energy, and did not industrialise
The answer is: It had the institutions, wages and knowledge but not the cheap energy, and did not industrialise
The answer is: It had the institutions, wages and knowledge but not the cheap energy, and did not industrialise

6.[2p]

North and Weingast point to the fall in the interest rate on British government debt as evidence that the 1688 settlement made the state a credible borrower.

Correct
The answer is: True

7.[3p]

Which of these are given as difficulties for the institutional explanation?

Select all that apply

Correct
Correct
Correct
The answer is: The institutional changes come decades before the machinery, The Dutch Republic had comparable protections earlier and did not industrialise, Patents cost around £100, so most invention happened outside the system

8.[2p]

Pomeranz's phrase "ghost acreage" refers to what?

Correct
The answer is: Land overseas whose output Britain used without owning or farming it
The answer is: Land overseas whose output Britain used without owning or farming it
The answer is: Land overseas whose output Britain used without owning or farming it

9.[3p]

What does the lesson conclude about how the four explanations fit together?

Correct
The answer is: Institutions and knowledge are permissive conditions; prices explain the direction and timing
The answer is: Institutions and knowledge are permissive conditions; prices explain the direction and timing
The answer is: Institutions and knowledge are permissive conditions; prices explain the direction and timing