Merchants and Manufacturers Responded to the Economic Tribulations of the Fourteenth

question 50

Multiple Choice

Merchants and manufacturers responded to the economic tribulations of the fourteenth century by

• A)increasing their prices.
• B)restricting competition and resisting the demands of the lower classes.
• C)blaming the Jews and persecuting them.
• D)pressuring the government to raise the prices of their products.
• E)adopting laissez-faire policies.

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Definitions:

Tax Receipts

The revenue collected by the government through all forms of taxes, such as income tax, corporate tax, and sales tax.

Fiscal and Monetary Policies

Government strategies used to influence economic conditions, with fiscal policy involving taxation and spending decisions and monetary policy concerning the control of the money supply and interest rates.

Private Sector

The sector of the economy operated by private individuals and businesses aiming for profit, without government oversight.

Keynesian Economists

Keynesian economists follow the principles of John Maynard Keynes, advocating for government intervention to moderate economic cycles and promote demand-driven growth.