World War I took the United States out of a recession into a 44-month economic boom. 30 Before the war, America had been a debtor nation. After the war, it became a lender, especially to Latin America. U.S. exports to Europe increased as those countries geared up for war.
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Explanation:
The voyages of explorers had a dramatic impact on European trade. ... Exploration and trade led to the growth of capitalism. This system is based on investing money for profit. Merchants gained great wealth by trading and selling goods from around the world.
The Muscovite ruler was recognized as an emperor by Maximilian I, the emperor of the Holy Roman Empire in 1514. However, the first Russian ruler to be formally crowned as "tsar of all Russia" was Ivan IV<span>, until then known as </span>Grand Prince<span> of all Russia (1547)</span>