Which of the Following Was True of the Colonial Elite

question 5

Multiple Choice

Which of the following was true of the colonial elite?

• A) As with the mother country, the colonies had a titled aristocracy.
• B) They controlled colonial government.
• C) They often encountered financial trouble because they lacked connections to their counterparts back in the mother country.
• D) Most of them were as wealthy as, if not wealthier than, the British aristocracy.
• E) All of them were careful to marry outside of their families.

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Definitions:

Output

The total amount of goods or services produced by a company or a production process.

Cost Function

A mathematical relationship that describes how the costs incurred by a firm change with various levels of output.

Profit-Maximizing

A strategy or approach taken by firms to adjust their production and pricing to achieve the highest possible profit.

Output

The amount of products or services generated by a business, sector, or nation during a specific period.