The Economic Policies of Jean-Baptiste Colbert, Louis XIV's Controller General

question 25

Multiple Choice

The economic policies of Jean-Baptiste Colbert, Louis XIV's controller general of finances

• A)were noted for their innovation and originality.
• B)used new accounting practices to take the tax burden off the peasants.
• C)were based on the economic theory of mercantilism.
• D)gave Louis the large surplus in the treasury needed to carry out his wars.
• E)can best be described as capitalist.

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Definitions:

Co-Ownership

A legal arrangement where two or more parties hold property rights simultaneously in the same asset or property.

Capital Interest

The share of ownership a partner has in a partnership, often represented as the value of their investment.

Bonus

An additional compensation paid to employees as an incentive or reward beyond their regular salary or wages.

Liquidation

The process of winding up a company's financial affairs by selling off its assets to pay creditors and distribute any remaining assets to the shareholders.