According to mercantilism, the accumulation of national wealth depended on the ________.
A) increase in a nation's trade surplus
B) increase in a nation's trade deficit
C) expansion of a nation's total value of trade
D) expansion of a nation's total volume of trade
Question 2
Which of the following statements is incorrect with regard to the importance of colonies for mercantilist nations?
A) They served as sources of inexpensive raw materials.
B) They served as markets for higher-priced finished goods.
C) They served as a source of military protection.
D) They served as a source of profits for mercantilist powers.
