<u>ANSWER:</u>
The system of mercantilism is based on "Nations increase their wealth by exporting more than they import".
Option: (C)
<u>EXPLANATION:</u>
- Adam Smith instituted the term "mercantile system" to relate the 'system of political economy' that looked to advance the nation by limiting imports and empowering exports.
- This system influenced Western European economic policies and approaches from the '16th' to the late '18th' century.
- The objective of these policies was, as far as anyone knows, to accomplish an "ideal" balance of trade that would bring silver and gold into the nation and increase their wealth and economy.
Alfred Thayer Mahan was a United States naval officer, historian, and one of the most influential American authors of the nineteenth century.
He argued that modern navies needed repair and coaling stations, which would not be dependable if controlled by other nations. This reasoning implied a justification for American acquisition of colonies to develop port facilities throughout the world.
Answer:
The Depression affected politics by shaking confidence in unfettered capitalism. That type of laissez-faire economics is what President Herbert Hoover advocated, and it had failed. As a result, people voted for President Franklin D. Roosevelt (FDR).
