Which of the Following Was Not an Element in Eighteenth-Century

question 76

Multiple Choice

Which of the following was not an element in eighteenth-century global trade?

• A)Gold and silver were shipped to America by Spain.
• B)Indian and Chinese products were purchased by the English, Dutch, and French.
• C)American plantation products were purchased by the nations of Europe.
• D)English manufactured goods were traded for African slaves, who were sold in Virginia for tobacco, which was then processed in England and sold for cash in Germany.
• E)Overseas trade boomed.

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Definitions:

Opportunity Cost

The consequence of losing possible gains from various options when one preference is made.

Interest Rate

The cost of borrowing money or the return for investing money, usually expressed as a percentage per annum.

Money Demand

The desire to hold cash or liquid assets rather than making investments, influenced by interest rates, income levels, and inflation.

Real GDP

The assessment of a nation's economic production once it has been corrected for changes in prices, such as inflation or deflation, showcasing the actual amount of goods and services generated.