The Classical Economists Attacked the Mercantilist Propositions That

question 14

Multiple Choice

The classical economists attacked the mercantilist propositions that

• A)state action was necessary to direct the capitalist system.
• B)money had no intrinsic value.
• C)output was completely supply-determined.
• D)the wealth of a nation was closely linked to the country's stock of precious metals.
• E)Both a and d

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Definitions:

Chesapeake Politically Unstable

Refers to a period of political instability in the Chesapeake region, historically marked by conflicts and governance issues.

Virginia

A state located on the East Coast of the United States, known for its significant history, including being one of the original 13 colonies.

Maryland

A state located in the Mid-Atlantic region of the United States, known for its rich history and diverse geography.

Colonial Governments

Administrative bodies established by colonial powers to oversee and manage colonies, often involving control over local resources, economy, and people.