When the Potosi Mines in Peru Opened in 1545

question 86

Multiple Choice

When the Potosi mines in Peru opened in 1545

• A) the price of silver plummeted for two decades.
• B) European migrants flooded into Peru to get jobs in the mines.
• C) the English fought and lost a war to capture the mines.
• D) the cost of precious metals imported into Europe quadrupled.
• E) none of the above.

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Definitions:

Fraudulent Activity

An illegal act involving the intentional deception or misrepresentation that an individual or entity makes to gain a benefit or advantage.

Debit Memorandum

A document or entry recorded by an entity that decreases a balance in another's account, typically used in adjustments between businesses.

Cash Balance

The amount of cash a company has on hand at a given time, reflecting its liquidity.

Custody

The protective care or guardianship of someone or something, often used in legal contexts to refer to the care of children or assets.