Which of the Following Statements Best Applies to the Economy

question 51

Multiple Choice

Which of the following statements best applies to the economy of sixteenth- and seventeenth century Europe?

• A) The joint stock company enabled the raising of spectacular sums of capital for world trading ventures.
• B) The early seventeenth century saw a general stagnation in the areas of mining and metallurgy.
• C) Technological innovations made the lives of peasants improve dramatically.
• D) The population explosion made for urban growth and more social equality in cities.
• E) An economic depression occurred because of a lack of specie.

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Definitions:

Producing Country

A nation that is engaged in the extraction or creation of goods and services for sale.

Imported Product

Goods or services brought into one country from another for sale.

Cultural Barrier

Obstacles in communication and interaction that arise from differences in culture, language, and societal norms among individuals or groups.

Import Quota

A government-imposed limit on the amount or value of goods that can be imported into a country.