Economic Effects and the Atlantic System Quiz

What was the main source of wealth for Spain during the "Golden Century?"

• Catholicism

• Spanish armies

• Precious metals from the New World

• Population increase

What was the consequence of the population increase in Spain during the Golden Century?

• Increased demand for goods and food

• Decreased demand for goods and food

• Stagnant demand for goods and food

• No impact on demand for goods and food

What happened during the Price Revolution in Spain during the Golden Century?

• Decrease in prices and cost of manufacturing goods

• Stagnant prices and cost of manufacturing goods

• Increase in prices and cost of manufacturing goods

• No change in prices and cost of manufacturing goods

Who prospered during the Price Revolution in Spain?

• Nobles on fixed income

• Middle class

• Wealthy noble and non-noble investors

• British, Dutch, and French

What economic practice did wealthy noble and non-noble investors utilize to fund expeditions?

• Joint stock investment

• Charter companies

• Corporations

• Indentured servants

What is a practice where investors receive a % of profit based on the % of money they put into a business or project?

• Charter companies

• Corporations

• Joint stock investment

• Indentured servants

Which European countries began utilizing corporations as legal entities separate from individual investors to fund exploration?

• Spain and Portugal

• Britain and France

• France and Spain

• Britain and the Netherlands

Why was there a labor shortage in the Americas during the late-17th century?

• Shortage of indentured servants

• Shortage of enslaved people

• Shortage of native workers

• Shortage of European settlers

What is the term for European settlers who signed labor contracts to pay for transportation?

• Peasants

• Sailors

• Indentured servants

• Corporate workers

What was the impact of the shortage of people willing to be laborers in the Americas?

• Increase in demand for indentured servants

• Decrease in European settlers in colonies

• Increase in demand for enslaved Africans

• Decrease in crop production in the colonies