Which of These Best Explains Why the Colonial Market for Tea

question 36

Multiple Choice

Which of these best explains why the colonial market for tea collapsed in the early 1770s?

• A) reduced tea production in India
• B) British bans on tea exports
• C) a deep recession
• D) the colonial response to the Townshend duties

Understand the effects of cultural influences on personal identity and group identification.

Understand the role of self-serving bias in individual behavior.

Recognize the importance of social harmony and personal freedom in different cultures.

Understand the psychodynamic perspective on personality and defense mechanisms.

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Definitions:

Required Reserve Ratio

The fraction of deposits that banks are required by law to keep on hand as reserves, either in their vaults or at a central bank.

Create Money

The process by which the money supply of a country is increased, typically by the central bank issuing currency or through the banking system's lending activities.

Real Estate

Pertains to land and any permanent structures or improvements attached to it, such as buildings, houses, and other property types.

Federal Funds Market

A market for overnight lending and borrowing of reserves among banks; the interbank market for reserves on account at the Fed.