Domestic and Foreign Policies - AP European History

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Question

Which of the following best describes mercantilism?

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Answer

Mercantilism was the dominant economic philosophy of Europe during the eras of global colonization. The colonizing powers sought to strengthen their own country and colonies at the expense of their rivals through methods such as high tariffs on imports, government subsidies for domestic products, forbidding trade with certain countries, and government-mandated monopolies.

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