Question 1
Which statement regarding the economic theory of mercantilism is FALSE?
A. Its principles spread throughout Europe in the sixteenth and seventeenth centuries.
B. It reduced the desire for nations to acquire and maintain colonies.
C. It assumed that exporting goods was preferable to importing goods.
D. It presumed that the world's wealth was finite.
E. It increased competition among nations.
Question 2
What condition(s) in England in the sixteenth century provided incentive for colonization?
A. The demand for wool was declining, while the population was growing.
B. Pasture land was being converted to crop production, while the population was declining.
C. The availability of farmland was declining, while the population was growing.
D. Both the food supply and the population were declining.
E. Both the food supply and the population were increasing.
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Question 3
In England during the early sixteenth century, mercantilism thrived mostly on the basis of trade in which commodity?
A. spices
B. lumber
C. slaves
D. corn
E. wool
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