What Did the Concept of Mercantilism Dictate About the Colonial

question 37

Multiple Choice

What did the concept of mercantilism dictate about the colonial economy?

• A) Parity between merchants and farmers would maximize profits.
• B) Economic policies must favor the business of agriculture.
• C) Merchants and bankers should hold decision-making positions.
• D) What was good for England should become colonial policy.

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Definitions:

Note Duration

The length of time until a note payable or receivable is due to be paid or received.

Promissory Note

A monetary tool that involves a formal commitment from one entity to give a specific amount of cash to another, either when asked or at an agreed-upon date in the future.

Face Value

The nominal or original value of a security or financial instrument as stated by its issuer, often the amount to be repaid at maturity.

Realizable Value

The estimated amount that an entity can receive from the disposal of an asset, after deducting the costs associated with the disposal.