The inflation of the sixteenth and early seventeenth centuries resulted in which of the following?

Question

Quizplus · Accepted Answer

The inflation of the sixteenth and early seventeenth centuries caused a decline in the standard of living for wage earners and those on fixed incomes. It was caused by a dramatic increase in the supply of silver and gold from the New World, which led to an increase in prices for goods and services. This made it more difficult for the average person to afford basic necessities, which had a negative impact on their standard of living. The inflation did not bring an abrupt halt to commercial expansion, and it was not the result of too little money in circulation.

The Inflation of the Sixteenth and Early Seventeenth Centuries Resulted