How Did the Colonial Elite View Their Role in Society

question 17

Multiple Choice

How did the colonial elite view their role in society?

• A) Social obligations demanded that they give everyone the same liberties that they enjoyed.
• B) It meant the power to rule-the right of those blessed with wealth and prominence to dominate others.
• C) They should enjoy their wealth but not parade it by dressing differently or by living in homes that were more elaborate than those of a lower status.
• D) They should work hard, because that is how they would make more money.
• E) They felt that they had no role and that those beneath them should just take care of themselves.

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Definitions:

Spot Rate

The ongoing market rate for buying or selling a particular currency, with immediate transfer.

Forward Rate

The agreed-upon exchange rate for currencies to be traded at a future date.

Amortize

This refers to the process of gradually writing off the initial cost of an asset over a period.

Discount

A reduction applied to the regular price of goods or services, or the amount by which the market value of a bond falls below its par value.