According to Dependency Theory, Under Colonialism European Powers

question 54

Multiple Choice

According to dependency theory, under colonialism European powers

• A) promoted the development of their colonies as a way of increasing profits.
• B) helped colonies to improve the production of their goods in order to sell them on the global market.
• C) kept colonies underdeveloped to avoid competition from them.
• D) fostered the political independence of colonies so they could protect colonial investment.

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Definitions:

Hand Loom

A manual weaving device operated by hand that is used to create woven fabrics or tapestry.

Federal Reserve

The central banking system of the United States, responsible for monetary policy.

Key Interest Rate

The primary interest rate set by the central bank that is used as the main benchmark for lending rates in the economy and influences overall monetary policy.

Money Supply

The entire gamut of monetary assets within an economy at a designated instance.