The Mercantilists Would Have Objected To

question 53

Multiple Choice

The mercantilists would have objected to:

• A)the use of tariffs or quotas to restrict imports
• B)international trade based on open markets
• C)export promotion policies initiated by the government
• D)trade policies designed to accumulate gold

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Definitions:

Instrument

A formal legal document that represents a right or interest, such as a check, promissory note, or bond.

Credit

The ability to obtain goods or services before payment, based on the trust that payment will be made in the future.

Uniform Commercial Code

The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law of sales and other commercial transactions.

Non-negotiable Instrument

A document or contract that cannot be transferred or assigned from one person to another in a way that the receiver obtains the legal right to it.