Explains this difference in average income
Course:- Microeconomics
Reference No.:- EM13700138

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Average income in Western Europe in 1600 was roughly $1,400 per year, while in Latin America, it was less than half that. Which of the following best explains this difference in average income?

a. Western Europe had more advanced technology than Latin America.

b. Western Europe had a better climate than Latin America.

c. Western Europe had fewer resources than Latin America.

d. Western Europe had lower taxes than Latin America.

e. Western Europe had never been invaded or colonized, whereas Latin America had

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