The Mercantilists’

The mercantilism idea define wealth in a country ____

• by the amount of gross domestic product (GDP)

• in accumulated amount of gold and silver

• by net trade

• none of above

Identify non factor to obtain "wealth" by the mercantilism idea

• Extraction from naturally occurring stocks

• Exporting more goods and services

• Domestic production subsidies policy

• Imposing less import tariff

Mercantilism idea concludes that export should be less than import in order to become rich country.

• True

• False

The wealth of one country must come at the expenses of another country

• True

• False

Identify policy suggested by mercantilism idea

• Promote positive trade balance

• Promote more Export Tariff

• Imposing less protectionism

• Influence residence to import more goods and services

Identify factor(s) that mercantilism view as "wealth".

• Gold

• Silver

• Bronze

• Paper Notes

The wealth of one country must come at the expenses of another country

• True

• False

Why mercantilism never really went away?

• Most country still imposing protectionism

• Other trade policy is not reasonable

• Because mercantilism idea includes paper notes as their wealth measurement

• None of above

The mercantilism idea was the dominant during what centuries?

• Before 16^th

• 17^th and 18^th

• 19^th and 20^th

• 20^th and 21^st

The mercantilism idea is an example of

• A philosophical theory

• A social theory

• An economic theory

• A political theory