Mercantilists Differ from Liberalists in All of the Following Ways

question 32

Multiple Choice

Mercantilists differ from liberalists in all of the following ways except,

• A) mercantilists do not see wealth and economic growth as ends in themselves.
• B) liberalists treat all specializations as equal in value; mercantilists do not.
• C) mercantilists view the state as having an active and vital role in their economies; liberalists do not.
• D) mercantalists would advocate for free trade over protectionism.

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Definitions:

Auction

A public sale in which goods or property are sold to the highest bidder.

Under Seal

Indicates a document that has been formally executed with a wax or paper seal, signifying its authenticity and importance.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of those parties.

Recognizance

An obligation in which a party acknowledges in court that he or she will perform some specified act and/or pay a price on failure to do so.