Colonial production of tobacco satisfied England's mercantilist interests because:
a. it provided a substitute for imported Spanish tobacco.
b. its poor quality discouraged English youth from smoking.
c. it provided a good that could be taxed by the English.
d. it ensured that the colonists would remain dependent on England for food.
a. it provided a substitute for imported Spanish tobacco.
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The tragedy of the commons refers to:
a. the plight of the common people, who are doomed to low paying jobs and discrimination. b. the fact that public resources are becoming scarce. c. the idea that what we have in common is often not why we trade. d. the idea that when everyone has free access to a resource, it will be overused and depleted.
If the dollar was initially valued at 20 rubles and its value rises to 23 rubles, then the value of a ruble (in terms of dollars) has _____________.
Fill in the blank(s) with the appropriate word(s).