The Chief Source of Ottoman Inflation in the Sixteenth Century

question 19

Multiple Choice

The chief source of Ottoman inflation in the sixteenth century was

• A) uncontrolled spending by the nobles.
• B) that such a small population could not produce enough goods.
• C) an influx of silver from the Americas.
• D) uncontrolled military spending.
• E) widespread opium addiction.

Describe the impact of technology on national comparative advantages.

Recognize the economic theories explaining international trade, including the Heckscher-Ohlin model.

Understand how labor productivity and wages influence international trade.

Analyze the benefits of specialization and trade for countries with different production possibilities.

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