It was the initiation of trade with Portugal.
Population growth. When the economy began to do better, people were better off and could live much longer lives.
Population growth. When the economy began to do better, people were better off and could live much longer lives.
In the sixteenth century, the Spanish discovered a vast silver deposit at Potosi in present-day Bolivia. This discovery led to the establishment of one of the richest silver mines in the world and attracted thousands of miners and settlers seeking wealth. Potosi's silver production had a significant impact on the global economy and played a key role in financing the Spanish Empire.
It allowed Congress to levy an income tax.
The central administration is usually responsible for the command economy and the market economy. The command economy is usually a centrally planned economy whereby the prices and supply are regulated by the government other than the market forces.
The Council of Economic Advisors is responsible for studying the economy and preparing the economic report.
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In the early 20th Century the American Economy was more industrial based. The American Economy in the 21st Century has seen an outsourcing of much of the industrial sector to economies that have "cheaper" labor. The current American Economy is more technologically and scientifically based.
The economy of Europe sank into a deep depression in the 14th century, known as the Black Death. This was a period of widespread economic hardship resulting from the devastating plague that killed millions of people, leading to a decline in trade, population, and productivity.
They had a diversified economy.