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Mercantilism
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Mercantilism

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Questions and Answers

Which economic policy seeks to maximize exports and minimize imports for an economy?

  • Protectionism
  • Colonialism
  • Imperialism
  • Mercantilism (correct)
  • Which of the following is a characteristic of mercantilism?

  • Neomercantilism
  • Free trade
  • Government regulation (correct)
  • Low tariffs
  • During which time period was mercantilism dominant in Europe?

  • Ancient times
  • 19th to 20th centuries
  • 21st century
  • 15th to 18th centuries (correct)
  • Who is considered to have written one of the first treatises on political economy with his 1613 work, A Short Treatise on the Wealth and Poverty of Nations?

    <p>Antonio Serra</p> Signup and view all the answers

    Which country began the first large-scale and integrative approach to mercantilism during the Elizabethan Era (1558–1603)?

    <p>England</p> Signup and view all the answers

    Who first articulated the Elizabethan system of mercantilism in England?

    <p>Thomas Mun</p> Signup and view all the answers

    Who is credited with best articulating French mercantilism in the 17th century?

    <p>Jean-Baptiste Colbert</p> Signup and view all the answers

    Which country became the financial center of Europe by being its most efficient trader and had little interest in seeing trade restricted?

    <p>Netherlands</p> Signup and view all the answers

    Which country had perhaps the most rigidly controlled economy in Europe under Frederick the Great?

    <p>Prussia</p> Signup and view all the answers

    Which country's heavily protected industries led to famines as much of its agricultural land was required to be used for sheep instead of grain?

    <p>Spain</p> Signup and view all the answers

    Which country attempted to pursue mercantilism but had little success due to its lack of a large merchant class or an industrial base?

    <p>Russia</p> Signup and view all the answers

    Which country experienced significant economic growth under Jean-Baptiste Colbert's mercantilist policies?

    <p>France</p> Signup and view all the answers

    What were some of the key features of French mercantilism under Colbert?

    <p>All of the above</p> Signup and view all the answers

    Which country remained supreme in terms of trading power despite Colbert's efforts?

    <p>The Dutch Republic</p> Signup and view all the answers

    What was the goal of British mercantilism with respect to its colonies?

    <p>To increase political power and private wealth</p> Signup and view all the answers

    Which term did Adam Smith use to criticize the economic system of mercantilism?

    <p>Mercantilism</p> Signup and view all the answers

    What was the goal of the medieval scholastic theorists in Europe?

    <p>To find an economic system compatible with Christian doctrines</p> Signup and view all the answers

    Who benefited greatly from the enforced monopolies and bans on foreign competition under mercantilism?

    <p>Merchants</p> Signup and view all the answers

    What economic ideology dominated for 250 years before being criticized by Adam Smith and David Ricardo?

    <p>Mercantilism</p> Signup and view all the answers

    Who wrote the Principles of Political Economy, a major mercantilist work published in 1767?

    <p>James Steuart</p> Signup and view all the answers

    Which country produced noted writers of mercantilist themes including Giovanni Botero and Antonio Serra?

    <p>Italy</p> Signup and view all the answers

    Who are noted for their viewpoints on a wide range of economic matters beyond mercantilism as a way of understanding the wealth and power of nations?

    <p>Mun and Misselden</p> Signup and view all the answers

    Who detailed a nine-point program of what he deemed effective national economy in his Austria Over All, If She Only Will of 1684, which comprehensively sums up the tenets of mercantilism?

    <p>Philipp Wilhelm von Hornick</p> Signup and view all the answers

    According to the text, which of the following best describes mercantilism?

    <p>A period of worldwide development of European commerce</p> Signup and view all the answers

    Who were the founding fathers of anti-mercantilist thought, according to the text?

    <p>Adam Smith, David Hume, Edward Gibbon, Voltaire and Jean-Jacques Rousseau</p> Signup and view all the answers

    According to the text, what did John Locke argue in 1690?

    <p>Prices vary in proportion to the quantity of money</p> Signup and view all the answers

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