According to Mercantilists, a Nation's Prosperity Depended on

question 52

Multiple Choice

According to mercantilists, a nation's prosperity depended on

• A)maximizing imports.
• B)keeping taxes as low as possible.
• C)the elimination of restrictions on trade.
• D)a large supply of gold and silver.
• E)the size of its population.

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Definitions:

Government Provision

The action of supplying or making available goods, services, or resources by a government to its citizens.

Economic Goods

Items or services that have monetary value and are scarce in relation to their demand, thus requiring sacrifice to obtain them.

Protective Function

A role often played by governmental bodies to ensure the safety and security of its citizens, through measures like law enforcement and military defense.

Legal Enforcement

The process of ensuring compliance with laws, regulations, and rules through sanctions or penalties.