How were the economic policies of France and Britain similar in their African colonies? Both countries invested in local businesses in order to increase profits.

Both countries encouraged African dependency on European products.

Both countries discouraged African peoples from buying European products.

Both countries encouraged African peoples to produce manufactured goods.

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.