Which of the Following Statements Best Applies to the Economy

question 3

Multiple Choice

Which of the following statements best applies to the economy of sixteenth- and seventeenth-century Europe?

• A)The joint-stock company enabled the raising of spectacular sums of capital for world trading ventures.
• B)The early seventeenth century saw a general stagnation in the areas of mining and metallurgy.
• C)Technological innovations improved the lives of peasants dramatically.
• D)The population explosion made for urban growth and more social equality in cities.
• E)An economic depression occurred because of a lack of precious metals in circulation.

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Definitions:

Taxable Amount

The taxable amount is the portion of income or a financial transaction that is subject to taxes according to the laws and regulations of the tax jurisdiction.

Tax Return

A form or forms filed with a taxing authority that report income, expenses, and other pertinent tax information, used to calculate tax liability.

Forgiveness Of Loan Repayment

A situation where a lender decides not to require the borrower to repay some or all of an outstanding loan, potentially resulting in taxable income for the borrower.

Income

Income refers to the money received by a person or organization for work, from investments, or from various other sources.