Which of the following is the best description of the economic policy of mercantilism?(1 point)

Question

Responses

a belief that a nation-states’ exports and imports should be equal
a belief that a nation-states’ exports and imports should be equal

a process in which so much currency is available that the value of that currency decreases
a process in which so much currency is available that the value of that currency decreases

a mechanism nation-states use to import more than they export for economic growth
a mechanism nation-states use to import more than they export for economic growth

a system in which nation-states see colonies as important for their economic growth

Answer 1

The best description of the economic policy of mercantilism is:

a system in which nation-states see colonies as important for their economic growth.

Mercantilism emphasized the importance of accumulating wealth, primarily gold and silver, through a favorable balance of trade, often supported by colonial expansion.