The Main Cause of the Price Revolution in Sixteenth Century

question 69

Multiple Choice

The main cause of the Price Revolution in sixteenth century Europe, according to the author, was

• A) silver imported from new Spanish conquests in the Americas.
• B) the slave trade.
• C) discovery of new silver mines in Bohemia.
• D) the import of Montezuma's gold into Spain.
• E) the growing population of Europe.

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Definitions:

Continuous Probability Curve

A curve that represents the distribution of a continuous random variable, indicating the probabilities of all possible values.

Continuity Correction

An adjustment made to a discrete distribution when approximating it to a continuous distribution.

Binomial Random Variable

A type of random variable that counts the number of successes in a fixed number of independent trials with the same probability of success.

Normal Approximation

A technique used to approximate discrete probability distributions with a normal distribution when certain conditions are met.