Question
The price revolution of the late sixteenth century was caused in great part by
a) a scarcity of precious metals.
b) new systems of credit.
c) rising inflation.
d) ordinary people gaining access to credit.
a) a scarcity of precious metals.
b) new systems of credit.
c) rising inflation.
d) ordinary people gaining access to credit.
Answers
GPT-5 mini
b) new systems of credit
The Price Revolution was largely driven by an expansion of the money supply (not a scarcity)—principally from New World bullion—and by growing financial and credit systems that increased monetary circulation and demand, producing sustained inflation.
The Price Revolution was largely driven by an expansion of the money supply (not a scarcity)—principally from New World bullion—and by growing financial and credit systems that increased monetary circulation and demand, producing sustained inflation.