Which of the Following Statements About the Early Stages of the American

question 41

Multiple Choice

Which of the following statements about the early stages of the American Revolution is LEAST accurate?

• A)Tensions between the colonists and Parliament resulted largely from British attempts to have colonists help pay the expenses of the Seven Years' War.
• B)Colonists objected to Parliament's efforts to impose taxes on them.
• C)One of the forms that colonial resistance took during the Revolution was a boycott on British goods.
• D)When the First Continental Congress met in 1774, every state was represented by a delegation.
• E)Military conflict had already broken out over a year before the colonies declared their independence.

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Definitions:

Annuity

A finite series of equal payments at equal intervals of time. In an ordinary annuity the payments occur at the ends of the time periods. In an annuity due, they occur at the beginnings.

Discounted Value

The present value of a future amount of money or a series of cash flows, adjusted for time value of money.

Annuity

A financial product that pays out a fixed stream of payments to an individual, usually used as an income stream in retirement.

Present Value

The immediate value of a prospective amount of money or cash flow series, determined by a specific rate of return.