The Series of Regulatory Measures Passed by England in the Decade

question 72

Multiple Choice

The series of regulatory measures passed by England in the decade between 1763 and 1774 was for the purpose of __________.

• A) paying war debt that England had accumulated as a result of the French and Indian Wars
• B) upsetting the colonists and promoting revolution
• C) punishing colonists for showing revolutionary tendencies
• D) creating a United States of America that would operate under a common set of rules
• E) creating a united defense in the colonies to protect against threats from other nations

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Definitions:

Supply Function

A supply function is a mathematical relation that shows how the quantity supplied of a good is influenced by its price and possibly other factors, such as production cost.

Demand Function

A mathematical equation that describes the quantity of a good that consumers are willing and able to purchase at various prices.

Subsidy

Financial assistance granted by a government or other institution to lower the cost of producing goods or services or to support consumers directly.

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in its price, with elasticity greater than one indicating a high sensitivity to price changes.