Quiz 4

Who does inflation benefit?

Debtors

Davis and Huttenback (1982) find evidence to support the claim that the colonists were overtaxed by England.

False

English mercantilism recognized the law of comparative advantage, thus permitting individuals to specialize in producing those goods and services which they could produce at relatively low opportunity costs and trading those items for those which they could not.

False

The American colonies' estimated cost of membership in the British Empire was, accordingto most economic historians, fairly large.

False

With regard to the Navigation Acts (1651 and later amendments), all of the following answers are true except

There is no "except"; all of these answers are true.

The Navigation Acts (1651 and later amendments) were intended to promote shipping and international commerce.

True

Under British rule, colonists were considered British subjects and had most of the same rights of British citizens.

True

With regard to British trade and commercial policies, all of the following are true except

With regard to British trade and commercial policies, all of the following are true except

Some researchers argue that the American Revolution was probably inevitable. The most important factor, of those listed below, was/were

a series of revenue-raising measures imposed on the colonists at the end of the French and Indian War for the purpose of making the colonies more self-supporting.