Multiple Choice

An economic historian is studying the country of 'Econland' and observes the following trends:

  • Period A (1650-1750): The population grew from 5 million to 6 million, while the average real wage for a skilled worker decreased from 120 to 100 units of grain per year.
  • Period B (1820-1900): The population surged from 8 million to 15 million, and the average real wage for a skilled worker simultaneously increased from 110 to 150 units of grain per year.

Which of the following statements best analyzes the fundamental economic shift between Period A and Period B for Econland?

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Updated 2025-07-17

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