What Is Manorialism

question 28

Multiple Choice

What is manorialism?

• A) the castles and defensive structures built by Muslims
• B) an economic system consisting of lords with authority over serfs and common laborers
• C) a culture created by monks that lived in manors
• D) the religion of the Germanic people who did not convert to Christianity
• E) the political system devised by knights who were not subject to the authority of kings

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Definitions:

Long-run Output

The total quantity of goods and services produced by an economy over a long period, when all inputs are considered variable.

Monetary Policy

Actions taken by a country's central bank to control the money supply and interest rates in order to influence economic activity, such as inflation, employment, and economic growth.

Fiscal Policy

Government adjustments to its spending levels and tax rates to influence a nation's economy.

Lag

Lag refers to a delay that occurs between the cause and effect of an economic policy or other measured variable in the analysis of data.