The Accumulation of Wealth from Industrial Activity Rather Than from Land

question 66

Multiple Choice

The accumulation of wealth from industrial activity rather than from land meant that

• A)class distinctions became blurred.
• B)most people looked down on businessmen.
• C)the countryside became increasingly impoverished.
• D)the landed aristocracy was less wealthy but gained in social status and political control.
• E)noble families shunned industry and business as being beneath their station.

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Definitions:

Contract Rate

The predetermined price per unit of service or good agreed upon in a contractual agreement.

Market Rate

The prevailing rate of interest or value for currencies or goods in the marketplace, often influenced by supply and demand.

Effective Interest Rate Method

A technique used in finance to find the actual interest rate per period with compounding taken into account.

Amortizing

The process of gradually paying off a debt over a period of time through regular payments.