Why Britain
1.[2p] What is the common signature of the machines invented in Britain in this period?
What is the common signature of the machines invented in Britain in this period?
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?
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?
3.[2p] The same £70 machine replaces two spinners earning £2 a year each. What is the rate of return now, in per cent?
The same £70 machine replaces two spinners earning £2 a year each. What is the rate of return now, in per cent?
4.[3p] Match each explanation to the historian most associated with it.
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?
Why is the Netherlands a useful test case?
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.
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.
7.[3p] Which of these are given as difficulties for the institutional explanation?
Which of these are given as difficulties for the institutional explanation?
Select all that apply
8.[2p] Pomeranz's phrase "ghost acreage" refers to what?
Pomeranz's phrase "ghost acreage" refers to what?
9.[3p] What does the lesson conclude about how the four explanations fit together?
What does the lesson conclude about how the four explanations fit together?