Exam 4: The Economic Relations of the Colonies

The colonies as a whole had a significant commodity trade deficit with England.  In order to finance this deficit the colonies relied on all of the following sources of income

Problems with the use of commodity money include:

New England 's exports went primarily to

New England shippers faced higher labor costs than English shippers

Why did Pennsylvania court settlements of contracts written in sterling in the middle of the eighteenth century use the current market value rather than the par value?

During the colonial period, commodities that could only be exported legally to Britain were known as _______.

Capital formation in the colonies was mostly due to

In terms of imports to the colonies, ______ and ______ were the top two trading partners.

According to the mercantilists, colonies were supposed to export ________ and import ________ from _______.

____________ solves the mutual coincidence of wants problem.

A nation practicing mercantilism aims to

The most important source of foreign exchange earnings to offset the colonial deficit with England was

Which of the following regions obtained most of its imported goods from the United Kingdom?

Mercantilists believed that national economic power could be achieved best by _______.

The Southern Colonies' exports went primarily to

Colonists owned the vast majority of the tonnage shipped between

What statement most accurately describes the U.S. colonial economy in the 1700s?

The annual colonial trade deficit  could be financed with

During the colonial period, "enumerated goods" included

____________ were the most common form of specie used in the colonies.