When Comparing English Colonies to Spanish Ones

question 86

Multiple Choice

When comparing English colonies to Spanish ones:

• A) only Spain was interested in finding gold.
• B) England used Native Americans more for labor.
• C) England sent more people to the Americas in the seventeenth century.
• D) Spain relied much more on indentured servant labor.
• E) only England was interested in converting the Native Americans.

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Definitions:

Price Change

A fluctuation in the market price of a good or service over a specific period.

Initial Endowment

The initial allocation of goods, resources, or money which an individual or entity possesses at the start of a consideration period.

Weak Axiom

A principle in consumer theory that, if a consumer chooses bundle A over bundle B when both are affordable, they will not choose B over A if A's price decreases and B's price stays the same or increases.

Revealed Preference

A theory that determines a consumer's preferences based on their purchasing behavior, under the assumption that their choices reveal their valuation of goods.