Colonists Owned the Vast Majority of the Tonnage Shipped Between

question 16

Multiple Choice

Colonists owned the vast majority of the tonnage shipped between

• A) New England and the West Indies.
• B) England and the West Indies.
• C) The Middle colonies and England.
• D) The South and the West Indies.

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Definitions:

Tariff

A tax imposed by a government on imported goods or services to protect domestic industries or to generate revenue.

Producer Surplus

The difference between what producers are willing to sell a good for and the price they actually receive.

Trade

The trade of goods, services, or both among two or more entities, either within a single economy or across different ones.

Producer Surplus

The difference between what producers are willing to accept for a good or service and what they actually receive.