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AP MODERN WORLD HISTORY 1. Explain ONE way in which mercantilism affected economies in Africa and Asia in the period c. 1450-c. 1750. 2. Explain ONE way in which the development of a global economy affected societal structures in European states between c. 1450-c. 1750. 3. Explain ONE way in which the Commercial Revolution transformed global economics in the period c. 1450-c. 1750.
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In the base year in a small island macroeconomy, nominal gdp was $400m. in a later year when the general level of all prices was twice as high, nominal gdp reached $1000m. between the base year and the later year: ( there can be multiple answers) -real gdp declined -there was real gdp growth by more than 100% - inflation occurred - there was real gdp growth but by less than 100%
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AP MODERN WORLD HISTORY 1. Explain ONE way in which mercantilism affected economies in Africa and As...
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