Among the Major Elements Underlying the Social Crises of the 1600s

question 126

Multiple Choice

Among the major elements underlying the social crises of the 1600s was

• A)that the Mediterranean area entered a steep economic decline as silver imports from Spanish colonies declined.
• B)a "little ice age" occurred in the latter half of the 1200s, cutting food production and leading to famine.
• C)a sharp European population increase after 1635 cut per-capita food availability by one-half.
• D)increased gold imports from Africa, which led to serious economic inflation.
• E)the onset of the White Death, a variant of the bubonic plague.

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Definitions:

Process Costing

An accounting methodology applied when identical units are mass produced, assigning average costs to each unit, simplifying the costing process.

Materials Costs

The cost incurred by a company to purchase, handle, and store raw materials used in the production of goods, often comprising a significant portion of total production cost.

Equivalent Units

A method used in process costing that converts partially completed goods into a number of completed units of output.

Assembly Department

An area in a manufacturing plant where parts are put together to create finished goods.