Asked by Sabrina Mitchell on Apr 25, 2024
Verified
The economic policy based on the incorrect theory that a nation's economic objective should be to accumulate precious metals in the public treasury is called _____.
A) laissez-faire
B) deficit financing
C) socialism
D) mercantilism
E) capitalism
Mercantilism
An economic theory and practice where government regulation of a nation's economy is used to increase state power at the expense of rival national powers.
Laissez-faire
Laissez-faire is an economic philosophy advocating minimal governmental intervention in the marketplace and the economic activities of individuals and businesses.
Precious Metals
Metals of high economic value, often used as an investment or industrial commodity, including gold, silver, platinum, and palladium.
- Comprehend the impact of historical economic ideologies and policies on contemporary economic practices.
Verified Answer
TT
Tenzin Tsering7 days ago
Final Answer :
D
Explanation :
The economic policy based on the incorrect theory that a nation's economic objective should be to accumulate precious metals in the public treasury is called mercantilism.
Learning Objectives
- Comprehend the impact of historical economic ideologies and policies on contemporary economic practices.