Answer:
The unintended effect was that semiofficial links formed among the colonial governments.
Explanation:
The Gaspée incident was one of the key acts of defiance against British authority that would eventually lead to the American Revolution. The Gaspée was a British cutter that was in pursuit of a smuggling ship when it ran aground in shallow water. Rhode Islanders boarded the vessel and attacked the crew and burned it in Narragansett Bay. Despite concerted British efforts to bring the culprits to justice, the raiding party was never punished. It is an example of the way the colonists were growing tired of British restrictions and taxes and how England was trying to reassert its authority and impose tax burdens on the colonies in these tumultuous times, in part to help finance the wars it was engaged in with other European powers like France.
Answer:
Yes, Hayek will agree with Sowell.
Explanation: Hayek is a firm believer in the fact that no one person has all the information needed to solve economic or issues affecting a complex economy.
Hayek in one of his papers stated that the information needed to operate a complex economy should be based on the views of individuals making up the economy,according to Hayek, information should be decentralized others should also have their own views on economic issues.
With this view expressed by Hayek, he will certainly agree with Sowell as it is based on his own findings and believe.
Inflation has been moderate in some industrialized countries since the 1970s because economists have started using more sophisticated monetary policy.
When prices increase gradually over a certain period of time, this is referred to as moderate inflation, gentle inflation, or creeping inflation. It increases customer expectations that product and service prices will climb more, which ultimately increases demand. In order to avoid the future price increases, consumers will make immediate purchases. In this sense, moderate inflation promotes economic growth.
In this instance, a nation's inflation rate climbs gradually but steadily over time, with the consequence of inflation not being obvious for a long time. Inflation never exceeds 3% during the course of a year.
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Answer: buying of goods among nations
Explanation:
Specialization refers to the method of production in which an economic agent produces limited number of goods in order be more efficient and purchase the goods that it's less efficient in producing from other economic agent.
Specialization encourages trade among countries due to the fact that there's no country that can produce everything, therefore it encourages buying of goods among nations. A nation has to buy the goods that it's less efficient in producing.
