The colonies as a whole had a significant commodity import deficit in their trade with England. The least important source of foreign exchange earnings to offset this trade deficit was
A) insurance charges and merchant commissions.
B) the sale of ships.
C) the sale of colonial shipping services.
D) military and civic expenditures.

Question

The colonies as a whole had a significant commodity import deficit in their trade with England.  The least important source of foreign exchange earnings to offset this trade deficit was
A) insurance charges and merchant commissions.
B) the sale of ships.
C) the sale of colonial shipping services.
D) military and civic expenditures.

Quizplus · Accepted Answer

The sale of ships was the least important source of foreign exchange earnings to offset the trade deficit between the colonies and England. Other sources like insurance charges, merchant commissions, the sale of colonial shipping services, and military and civic expenditures played more significant roles in balancing the trade.

The Colonies as a Whole Had a Significant Commodity Import