Question 1

Tulipmania is an example of

Accepted Answer

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. C

Question 2

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

Accepted Answer

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. B

Question 3

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

Accepted Answer

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 B

Question 4

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

Accepted Answer

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

Question 5

Enslaved Africans:

Accepted Answer

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 6

Sugar plantations in the Western hemisphere:

Accepted Answer

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 7

Peasants and serfs are similar in the sense that:

Accepted Answer

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

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

Accepted Answer

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

Question 9

The mita was

Accepted Answer

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 10

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

Accepted Answer

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

Question 11

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

Accepted Answer

The answer of Examine the impact of the "new global...

Question 12

Global trade in the seventeenth century:

Accepted Answer

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 13

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

Accepted Answer

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

Question 14

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

Accepted Answer

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 15

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:

Accepted Answer

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

Question 16

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

Accepted Answer

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 17

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

Accepted Answer

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 18

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

Accepted Answer

The answer of Explain the roles of plantation agriculture and...

Question 19

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

Accepted Answer

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 20

The Calico Acts of 1700 and 1721 were designed to:

Accepted Answer

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.

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