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According to the text, what was the main measure of a country's wealth in Mercantilism?
According to the text, what was the main measure of a country's wealth in Mercantilism?
- Exports
- Gold and silver (correct)
- Efficiency gains
- Imports
What did Mercantilists believe about exports and imports?
What did Mercantilists believe about exports and imports?
- Both exports and imports are good
- Both exports and imports are bad
- Exports are bad and imports are good
- Exports are good and imports are bad (correct)
What is a key flaw in Mercantilism?
What is a key flaw in Mercantilism?
- Efficiency gains
- Specialization
- Zero-sum game (correct)
- Gold's value
What is the principle behind Absolute advantage?
What is the principle behind Absolute advantage?
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According to the text, what is the potential gain in efficiency that Mercantilists failed to recognize?
According to the text, what is the potential gain in efficiency that Mercantilists failed to recognize?
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What is the main measure of a country's wealth in Mercantilism?
What is the main measure of a country's wealth in Mercantilism?
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What is a key flaw in Mercantilism?
What is a key flaw in Mercantilism?
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What is the principle behind Absolute advantage?
What is the principle behind Absolute advantage?
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What did Mercantilists believe about exports and imports?
What did Mercantilists believe about exports and imports?
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What is the potential gain in efficiency that Mercantilists failed to recognize?
What is the potential gain in efficiency that Mercantilists failed to recognize?
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