The statement that accurately evaluates the impact of the flow of goods, peoples, and ideas between the Old World and the New World during the sixteenth century is:
The flow of goods, peoples, and ideas caused long-reaching societal, cultural, biological, and agricultural changes on both sides of the Atlantic.
This reflects the significant and transformative effects of the Columbian Exchange, which facilitated the exchange of crops, livestock, diseases, and cultural practices, ultimately reshaping societies in both the Old World and the New World.