The Influx of American Silver to Europe Did All the Following

question 68

Multiple Choice

The influx of American silver to Europe did all the following except

• A) create growing trade deficits with Asia.
• B) increase the European money supply.
• C) transform Spain into a major manufacturing center.
• D) promote commercial expansion.
• E) increase social mobility in Europe.

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Definitions:

Optimum

The most favorable condition or highest achievable level of efficiency under the given circumstances.

Indifference Curves

Graphical representations in economics that show combinations of goods among which a consumer is indifferent.

Upward-sloping

A term used in economics to describe a curve that represents an increase in one variable as another variable increases, often used in the context of supply curves.

Preferences

Individual choices or tastes regarding various bundles of goods and services.