Which of the Following Drove Louis XIV to Near-Bankruptcy

question 17

Multiple Choice

Which of the following drove Louis XIV to near-bankruptcy?

• A) a weak, underdeveloped economy
• B) war
• C) governmental corruption
• D) Versailles
• E) patronage of science and the arts

Realize the significance of money in facilitating transactions and overcoming the limitations of barter.

Recognize the importance and roles of precautionary and speculative demands for money.

Understand the distinct roles and characteristics of managers and leaders.

Identify factors that contribute to becoming an informal or formal leader.

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Definitions:

Credit Default Swaps

Financial derivatives that allow an investor to swap or offset their credit risk with that of another investor.

Insurance Contract

A legal agreement between an insurance company and the policyholder, which specifies the terms for the payment of insurance benefits.

Default

Failure to fulfill a financial obligation, especially failing to make payments on a loan, bond, or other debt instrument.

Nonfinancial Businesses

Companies primarily engaged in activities other than financial services, such as manufacturing, services, or retail.