5 Questions
According to the passage, which economic theory attacked the mercantilist dogma first?
Quantity theory of money
During the mercantilist era, what did countries favor in order to make themselves wealthier?
Exporting their own goods to run balance of payments surpluses
Who accused mercantilists of being anti-free trade and confusing money with wealth?
Adam Smith
What did Great Britain begin promoting after victory in the Napoleonic wars?
Free trade
According to historian Carroll Quigley, what factors allowed Great Britain to act benevolently in the 19th century?
Geographical location and naval power
Test your knowledge on the balance of payments in international economics, which measures the difference between the inflow and outflow of money in a country. Explore financial transactions related to trade of goods and services, as well as government and individual contributions.
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