Real business cycle theory best in this regard.
Explanation:
Among the other options, option first explains and put pressure on the role of technology in causing economic fluctuations. The new price or change in price affects the total cost of the product and so on the supply and demand. Because almost all firms use oil in one form or another, oil price changes function like technology changes.
The increase in aggregate cost decreases the productivity of the firms. The demand went down which affected the circulation of money in the market and leads to the recession.
The lord propietors, even tough the kind had full sovereignty over Carolina, were given some Powers to ensure to collect taxes and duties, establish civil structures and to keep order, also they could own some mineral field, they were avalaible to have some independent at some point.
The goverment of these colonies consisted in: A governor, a council and a populary elected assembly.
The goverments under propietary rule were similarly organized, the best know difference was who appointed the governing oficial, in these case could be the Lords Proprietors or the sovereign.
The people hold the power in a democracy
I believe the answer is it committed the colonies to being independent.
