Prior to and during the period of American colonization, the following occurred in Europe:
(a) Feudal rulers found it easy to force peasants and urban producers to work for them as long-distance trade expanded, the costs of warfare increased, and the land/labor ratio increased as consequence of the bubonic plague.
(b) Feudal lords shared profits from output with the peasantry and pumped them into investment expenditures, which accelerated agricultural growth.
(c) Conflict among lords and peasants led to many peasant and urban revolts, diverting resources away from production and investment.
(d) Financial stability enabled the nobility of Europe to foster growth among feudal lands
and increase the riches of both rulers and peasants, producing a period of high
economic growth.
Question 2
Hughes and Cain (2011) effectively argue that advancements in power technology helped open new opportunities for the strategic placement of cities and big factories.
Indicate whether the statement is true or false
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