The colonies as a whole had a significant commodity trade deficit with England. In order to finance this deficit the colonies relied on all of the following sources of income
A) a commodity trade surplus with Southern Europe.
B) the sale of colonial shipping services.
C) mining of gold and silver that were used to make Colonial coins.
D) British government spending in the colonies.
Correct Answer:
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Q37: According to research by James Shepherd and
Q38: Early forms of colonial money included
A) wampum.
B)
Q39: Problems with the use of commodity money
Q40: Which of the following statements correctly characterizes
Q41: The use of commodity money
A) has a
Q42: The most important source of foreign exchange
Q43: The colonies as a whole had a
Q44: Capital formation in the colonies was mostly
Q45: The annual colonial trade deficit could be
Q47: _ solves the mutual coincidence of wants
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