The Triangular Trade of the Colonial American Shipping Industry

question 68

Multiple Choice

The triangular trade of the colonial American shipping industry

• A) was not that profitable.
• B) involved America, France, and England.
• C) relied on the Spanish fleet for protection.
• D) saw the Spanish gaining the largest profits.
• E) involved the trading of rum for African slaves.

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Definitions:

Interest Rate

The fee, shown as a percent of the principal, that a lender imposes on a borrower for the utilization of assets.

Government Spending

Financial expenditures by the government, including investments, consumption, and transfer payments, aimed at influencing the economic activity.

Total Income

The aggregate earnings received by an individual or entity, including wages, salaries, profits, rent, and other income streams, over a specific time frame.

Multiplier

In economics, a factor by which an increase in spending leads to a greater increase in national income.