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In: Economics

Question 22 Portugal started the Age of Discovery by: A. Developing new technologies needed to sail...

Question 22

Portugal started the Age of Discovery by:

A.

Developing new technologies needed to sail the opens seas of the Atlantic.

B.

Establishing mining operations in the New World.

C.

Creating a trade route between Europe and the New World.

D.

Creating an all water-route around the Cape of Africa to the East.

E.

Establishing slave plantations in North America.

Question 23

The Greek empire disintegrated because:

A.

A financial crisis hit and bankrupted the Greek city state of Athens.

B.

A revolutionary upheaval led to a collapse in the Greek government.

C.

It was ravaged by the spread contagious diseases and devastating famines, that caused a demographic catastrophe.

D.

It was invaded by barbarians living in the Western region of the empire.

E.

Athens was unable to prevent constant civil wars from erupting within their empire.

Question 24

On the feudal manors of Western Europe:

A.

The lord owned most of the land called the demesne; the serfs had strips of land to cultivate; and there was common lands for the entire village to use.

B.

The lord's vassals owned most of the land called the demesne; the serfs had strips of land to cultivate; and there was common lands for the entire village to use.

C.

The lord owned most of the land called the demesne; the lord's vassals had landholdings called a fief; the serfs were landless; and there was common lands for the entire village to use.

D.

The lord owned most of the land called the demesne; the serfs had strips of land to cultivate; and there was common lands that only people of noble birth had the right to use.

E.

The lord owned no land; the serfs had strips of land to cultivate; and there was common lands called the demesne that only people of noble birth had the right to use.

Question 25

One consequence that followed the breakdown of feudal society in the 14th century was:

A.

The strengthening of the Catholic church as religious conflicts waned.

B.

The Industrial Revolution started.

C.

The feudal guilds relocated to the countryside and began to prosper.

D.

The decline of serfdom throughout Western Europe and the rise of slavery.

E.

The decline of the aristocracy and the rise of strong kings.


Question 26

A natural economy is:

A.

A self-sufficient economy where production is for exchange rather than use.

B.

An exchange economy where there is forced labor.

C.

A self-sufficient economy where production is for use rather than exchange.

D.

A free market economy where there is no forced labor.

E.

An exchange economy built on long distance trade.

Question 27

The Protestant Reformation came to England when:

A.

Calvin began to attack church doctrine.

B.

England was conquered by the Dutch.

C.

Martin Luther began his campaign against corruption in the Catholic church.

D.

King Henry VIII broke with the church of Rome, declared himself, not the pope, to be the leader of the Church of England, all to sanction his divorce.

E.

Church officials in England declared their independence from Rome because of doctrinal disputes.

Question 28

Medieval cities/towns were different from the cities in the Ancient World because:

A.

Medieval cities/towns were places where the feudal lords lived and conducted their politics while the Ancient cities were inhabited by merchants and craftsmen.

B.

Medieval cities/towns were inhabited by kings and government officials while the Ancient cities were occupied by military personnel.

C.

Medieval cities/towns were inhabited by merchants and craftsmen while the Ancient cities were places where land owners lived and conducted their politics.

D.

Medieval cities/towns were places where large slave-owning landlords lived and conducted their politics while the Ancient cities were inhabited by merchants and craftsmen.

E.

Medieval cities/towns were inhabited by merchants and craftsmen while the Ancient cities were places where feudal lords lived and conducted their politics.

Question 29

The Ancient societies acquired slaves for their plantations by:

A.

Enslaving minority communities within their own country.

B.

Importing slaves from Africa.

C.

Purchasing slaves from barbarian societies.

D.

Conquering their neighbors and enslaving them.

E.

Enslaving poor inhabitants within their own countries.

Question 30

The agricultural revolution in England during the 15 and 16th centuries was precipitated by:

A.

The use of new pesticides that increased crop yields.

B.

The enclosure movement that transformed small, scale open field farming into large scale commercial sheep farms.

C.

The use of a new fertilizer that doubled output..

D.

The introduction of mechanical ploughs.

E.

The introduction of new types of seeds that doubled grain output.

Question 31

The "economic dynamic" of the Ancient World is best described as one in which:

A.

Uncultivated lands were brought into cultivation, increasing the food supply, and providing the basis for more trade and expansion of the urban economy.

B.

Trade expanded and allowed for greater division of labor, which increased productivity.

C.

Military campaigns lead to the need for improved military technologies, which then filtered down to stimulate the growth in the civilian economy.

D.

Military campaigns lead to the conquest of lands, capturing of slaves, trade, and tribute, which provided the resources for even larger military conquests.

E.

None of these answers are true.

Question 32

Rome was able to build a much larger and long-lasting empire than the Greeks because:

A.

Rome was able to incorporate the people it conquered into its political system by making them citizens of Rome.

B.

Rome developed a superior manufacturing system that enabled it create the vast amount of tax revenues it needed to pay for the cost of running their empire.

C.

Rome had more slaves it could use to defend the empire against attack.

D.

Rome had a superior navy that allowed to easily conquer and control a large amount of territory.

E.

Rome had superior military technology that enabled its armies to defeat its enemies.

Question 33

Which statement best describes the medieval concept of a just price?

A.

A just price is a price that reflects how scarce or abundant a good is in the marketplace.

B.

A just price is a price that is not too high or too low given the market supply and demand for a good.

C.

A just price is a price that is fair given how much the buyer can afford to pay.

D.

A just price is a price that is set by the church.

E.

A just price is a price that adequately compensates the seller for their costs and their labor.

Solutions

Expert Solution

QUESTION 22 :-

Developing new technologies needed to sail the opens seas of the Atlantic

ANSWER :-

Soon the Atlantic islands of Madeira (1419) and the Azores (1427) were reached. In particular, they were discovered by voyages launched by the command of Prince Henry the Navigator.

QUESTION 23 :-

A.

A financial crisis hit and bankrupted the Greek city state of Athens.

ANSWER :-

The enormous expenditure on the army and payment to the bureaucracy created a financial crisis for the Maurya empire. As far as we know, in ancient times the Mauryas maintained the largest army and the largest regiment of officers. Despite the range of taxes imposed on the people, it was difficult to maintain this huge superstructure. It seems that Ashoka made large donations to the Buddhist monks which left the royal treasury empty. Towards the end, in order to meet expenses, they were obliged to melt gold images.

QUESTION 24 :-

ANSWER :-

C.

The lord owned most of the land called the demesne; the lord's vassals had landholdings called a fief; the serfs were landless; and there was common lands for the entire village to use.

ANSWER :-

Manors were economic and political units – blocs of farm land which formed the base on which the whole panoply of fief-holding was built. Fiefs consisted of one or more manors; and manors provided a fief-holder with income, status and power.

QUESTION 25 :-

ANSWER :-

E.

The decline of the aristocracy and the rise of strong kings.

Society in this period was extremely hierarchical. ... Sometimes the king would ally with rich merchants to thwart the nobles.

QUESTION 26 :-

ANSWER :-

C.

A self-sufficient economy where production is for use rather than exchange.

. As a corollary, the majority of goods produced in a system of natural economy are not produced for the purpose of exchanging them, but for direct consumption by the producers.

QUESTION 27 :-

ANSWER :-

D.

King Henry VIII broke with the church of Rome, declared himself, not the pope, to be the leader of the Church of England, all to sanction his divorce.

Henry VIII was the first monarch to introduce a new state religion to the English. In 1532, he wanted to have his marriage to his wife, Catherine of Aragon, annulled. When Pope Clement VII refused to consent to the annulment, Henry VIII decided to separate the entire country of England from the Roman Catholic Church.

QUESTION 28 :-

ANSWER :-

.

Medieval cities/towns were inhabited by kings and government officials while the Ancient cities were occupied by military personnel.

QUESTION 29 :-

ANSWER :-

D.

Conquering their neighbors and enslaving them.

Most slaves probably were acquired by raiding neighbouring peoples, but others entered slavery because of criminal convictions or defaulting on debts (often not their own); subsequently, many of those people were sold into the international slave trade.

QUESTION 30 :-

ANSWER :-

E.

The introduction of new types of seeds that doubled grain output.

The Agricultural Revolution, the unprecedented increase in agricultural production in Britain between the mid-17th and late 19th centuries, was linked to such new agricultural practices as crop rotation, selective breeding, and a more productive use of arable land.

QUESTION :- 31

ANSWER :-

A.

Uncultivated lands were brought into cultivation, increasing the food supply, and providing the basis for more trade and expansion of the urban economy.

The "economic dynamic" of the Ancient World is best described as one in which: ... Uncultivated lands were brought into cultivation, increasing the food supply, and providing the basis for more trade and expansion of the urban economy.

QUESTION :-32

ANSWER :-

C.

Rome had more slaves it could use to defend the empire against attack.

Under the empire, Roman currency was not just an economic tool; it was a political tool, as well. Julius Caesar, Augustus’s adopted father, had been the first Roman to put his own portrait on coins, and Augustus continued this practice.

QUESTION :-33

ANSWER :-

A.

A just price is a price that reflects how scarce or abundant a good is in the marketplace.


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