Due to the Expansion of Commerce and the Availability of Cheap

question 7

True/False

Due to the expansion of commerce and the availability of cheap and nutritious food,the largest European cities boasted populations of over 1 million people by 1300.

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Definitions:

Probability Distribution

A function used in statistics to illustrate all potential outcomes and their respective probabilities for a random variable within a fixed range.

Stock of the Economy

This term typically refers to the total value of all goods and resources available in an economy at a given point in time.

Nominal Rate of Interest

The interest rate unadjusted for inflation, representing the face value of interest payments.

Real Rate of Interest

The interest rate that has been adjusted to remove the effects of inflation to reflect the real cost of funds to the borrower and the real yield to the lender.