lbe Which of the following is a correct statement about mercantilism? It supports complete free trade between the world's societies. It believes that the best way to determine a society's wealth is by calculating its overall output of labor. It believes that an economy works best when the government does not get involved in the economy. It believes the government should own the economic means of production so that a more equal distribution of wealth can be achieved. It believes that there is a finite or fixed amount of wealth in the world.

Question

lbe Which of the following is a correct statement about mercantilism? It supports complete free trade between the world's societies. It believes that the best way to determine a society's wealth is by calculating its overall output of labor. It believes that an economy works best when the government does not get involved in the economy. It believes the government should own the economic means of production so that a more equal distribution of wealth can be achieved. It believes that there is a finite or fixed amount of wealth in the world.

Answer 1

It believes that there is a finite or fixed amount of wealth in the world.

Answer 2

Mercantilism is an economic theory that was prominent in Europe during the 16th to 18th centuries. It posits that the wealth of a nation is measured by its stock of precious metals, such as gold and silver. Mercantilists believe that there is a finite amount of wealth in the world, and nations must compete to acquire the largest share of this wealth. This theory supports government intervention in the economy to achieve a favorable balance of trade, often through protectionist policies.

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