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Click! In 1450, the price index of grain was roughly 100, and.

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Presentation on theme: "Click! In 1450, the price index of grain was roughly 100, and."— Presentation transcript:

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6 In 1450, the price index of grain was roughly 100, and in the four decades that follow remain relatively stable. In 1450, the price index of grain was roughly 100, and in the four decades that follow remain relatively stable. Around the 1525 year mark, the price of grain becomes volatile. Around the 1525 year mark, the price of grain becomes volatile. Prices steadily rise and reaches its first peak in the early 1550s. Prices steadily rise and reaches its first peak in the early 1550s. By 1600, the price of grain reaches its high point at a price index of roughly 1000, a 1000% increase in 150 years. By 1600, the price of grain reaches its high point at a price index of roughly 1000, a 1000% increase in 150 years. The price of grain appears to have hit a price ceiling of 1000 by The price of grain appears to have hit a price ceiling of 1000 by 1650.

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16 The Columbian Exchange: A History of Disease, Food, and Ideas The Columbian Exchange: A History of Disease, Food, and IdeasThe Columbian Exchange: A History of Disease, Food, and IdeasThe Columbian Exchange: A History of Disease, Food, and Ideas Irish Potato Famine Irish Potato FamineIrish Potato FamineIrish Potato Famine The Dutch East India Company and the Tea Trade The Dutch East India Company and the Tea TradeThe Dutch East India Company and the Tea TradeThe Dutch East India Company and the Tea Trade The Price Revolution: A Monetary Interpretation The Price Revolution: A Monetary Interpretation The Price Revolution: A Monetary Interpretation The Price Revolution: A Monetary Interpretation Crosby, Alfred W. The Columbian Exchange: Biological and Cultural Consequences of Details the exchanges between the Old World and the New World and a study of the commodities involved. Elliot, J. H. The Old World and the New, A broader survey of the consequences of overseas discoveries. Elliot, J. H. The Old World and the New, A broader survey of the consequences of overseas discoveries.

17 1. True/False: The main contributor to inflation in the 16 th and 17 th centuries was gold from the New World. TrueFalseTrueFalse 2. True/False: Italy was affected by price inflation because of the countries it traded with. TrueFalseTrueFalse 3. True/False: Mercantilist policy is characterized by private individuals seeking profits. TrueFalseTrueFalse 4. In which country was inflation first centered, causing it to feed into a growing imbalance of trade with other countries for raw materials? a) Italy Italy b) France France c) England England d) Spain Spain 5. Which of the following is NOT a result of inflation? a) laborers from France traveled to Spain for higher wages laborers from France traveled to Spain for higher wageslaborers from France traveled to Spain for higher wages b) eastern European peasants were able to buy themselves out of serfdom eastern European peasants were able to buy themselves out of serfdomeastern European peasants were able to buy themselves out of serfdom c) peasant protests over low wages compared to the rising prices peasant protests over low wages compared to the rising pricespeasant protests over low wages compared to the rising prices d) landowners raised rents landowners raised rentslandowners raised rents 6.All of the following are characteristic of joint-stock companies EXCEPT: a) buying special privileges for local authorities buying special privileges for local authoritiesbuying special privileges for local authorities b) the British East India Company was more successful than the Dutch East India Company the British East India Company was more successful than the Dutch East India Companythe British East India Company was more successful than the Dutch East India Company c) investors pooled their money to have ownership in a capitalistic venture investors pooled their money to have ownership in a capitalistic ventureinvestors pooled their money to have ownership in a capitalistic venture d) allowed investors to share risk allowed investors to share riskallowed investors to share risk

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