Deck 4: Production and Consumption in the First Global Economy: 1571-1700

Question 1

Cotton textiles manufactured in _________ were most in demand around the world in the seventeenth century.

A) India.
B) England.
C) Africa.
D) Mexico.

Answer 1

A

Question 2

Tulipmania is an example of

A) a protectionist scheme based on zero-sum economic theory.
B) the ill-conceived use of plants for medicinal purposes.
C) an investment bubble based on speculation about future prices.
D) a Dutch obsession with Japanese art.

Answer 2

C

Question 3

The economic system theory that posits that the best way to measure a country's economic health is by the amount of precious metals in its treasury is called:

A) capitalism.
B) mercantilism.
C) bimetallism.
D) corvéeism.

Answer 3

B

Question 4

Historian Sam White argues that a key variable in explaining regional upheaval in the 17^th century is:

A) the impact of climate change.
B) the waning of Protestantism.
C) the rise of political parties.
D) the growth of piracy.

Question 5

The Edo regime in Japan adopted a policy of Sakoku, which led to:

A) the invasion of China
B) the annexation of the Philippines
C) opening all Japanese ports to European merchants.
D) strict control of economic interactions with other nations.

Question 6

England and France, attempting to eliminate Asian competitors and protect their own local textile manufacturers:

A) blockaded Asian ports to prevent exports.
B) imposed protective tariffs (taxes) on Asian textile imports.
C) obtained patents on the products in order to control sales.
D) hired Asian immigrants to produce textiles in France and England.

Question 7

Peasants and serfs are similar in the sense that:

A) they share the same religion.
B) they have complete freedom to change jobs or place of residence.
C) they are both involved in agricultural production.
D) they both must belong to guilds.

Question 8

Sugar plantations in the Western hemisphere:

A) were dominated by the indigenous labor force
B) integrated growing, harvesting, and refining functions in one enterprise.
C) never recovered from the Black Death.
D) had a monopoly on global production until 1730.

Question 9

Much of the silver produced in the Americas went to in China in exchange for:

A) rice and other agricultural staples.
B) silks, porcelains, and other manufactured goods.
C) field hand, household servants, and other enslaved peoples.
D) all of the above.

Question 10

In the sixteenth and seventeenth centuries, India was the world's leading ________ manufacturer.

A) weapons
B) ceramics
C) textile
D) silver coin

Question 11

The mita was

A) a tax on silver production in Spanish America.
B) a tax on sugar consumption in Spain
C) a tax on wages earned in the textile mills of South Asia.
D) a labor tax on indigenous peoples in the Andes.

Question 12

Under the theory of mercantilism, the best way for a state to add precious metals to its treasury was through

A) exporting more than importing
B) importing more than exporting
C) maintaining an absolute balance (or zero-sum) between the value of imports and exports
D) taxing imperial subjects at the highest marginal rate permissible by the royal courts.

Question 13

The Calico Acts of 1700 and 1721 were designed to:

A) promote Indian textile sales in the Western hemisphere.
B) damage Portuguese sugar sales in Europe.
C) promote a positive balance of trade between England and Mexico.
D) protect English textile producers from South Asian imports.

Question 14

Enslaved Africans:

A) were used in almost every kind of economic activity in the Western hemisphere.
B) worked only in agriculture
C) became a less important part of the Western hemisphere work force in the seventeenth century.
D) were not present in French colonies.

Question 15

The _______________ is a financial instrument (still in use today) that contributed to the "tulipmania" phenomenon is:

A) the value added tax
B) the zero-sum game
C) the futures contract
D) the proxy

Question 16

The Dutch East India Company and the British East India Company are examples of

A) Asian-owned trading companies in European cities.
B) joint stock companies granted rights by a royal or government charter
C) textile manufacturers.
D) stock exchanges such as Wall Street is today

Question 17

Global trade in the seventeenth century:

A) was monopolized by British merchants.
B) privileged the movement of staple grains over long distances.
C) was highly competitive with no single dominant state.
D) no longer included ethnic Chinese merchants.

Question 18

Which of the following best describes the Portuguese approach to agriculture in the Americas?

A) The Portuguese encouraged a balanced cultivation of a variety of crops.
B) The Portuguese relied on large-scale plantation monoculture.
C) The Portuguese experimented with a variety of agricultural methods.
D) The Portuguese were mainly unconcerned with agriculture.

Question 19

Over the long-term, the trans-Atlantic slave trade:

A) had little effect on politics in Africa.
B) declined rapidly after a half-century of expansion.
C) disrupted political structures and relationships in Africa.
D) ended with the Treaty of Ryswick.

Question 20

The expansion of the world's precious metal supply inspired rulers in many places, including China and India, to:

A) abandon domestic mining operations, which were seen as inefficient.
B) invest in new shipbuilding technologies capable of carrying heavier loads of silver and gold.
C) change economic development policies to encourage more agricultural production.
D) reform tax policies to increase the accumulation of precious metals in their treasuries.

Question 21

Explain the roles of plantation agriculture and joint stock companies in the expansion of global trade and integration.

Question 22

How does American silver production re-shape the global economy?

Question 23

Examine the impact of the "new global economy" on local and regional relationships in two distinct places.