1. Letter C is the correct answer.
2. Letter E is the correct answer.
Mercantilism was an economic system used by European powers from the 16th to the 18th centuries. This system was responsible for generating wealth to national powers while colonies were being strongly explored. According to the British theory of mercantilism, the colonies should be carefully controlled in order to support the metropole's needs. Thus, taxing colonial goods at a higher rate than the same goods produced in Britain was a mercantilist strategy found that served the home country's needs and harmed the colonial economy at the same time.
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The aswers is: This will cause U.S. consumers to <u>increase</u> their imports from New Zealand and New Zealand consumers to <u>reduce</u> their imports from the U.S. According to purchasing power parity (PPP), whis will result in an <u>appreciation</u> of the New Zealand dollar (NZ$).
Explanation:
The inflation rate refers to an overall increase in the Customer Price Index (CPI), a weighted average for different goods. If this the U.S. inflation rate is lower than the New Zealand inflation rate, the U.S. will have the opportunity to import more products and/or goods as they rate means economic certainty, and New Zealand as being more affected, their imports will decrease.
The tendency to overestimate the contribution of internal factors to the success of another is part of Self-serving bias perceptual bias.
This is further explained below.
<h3>What is
Self-serving bias?</h3>
Generally, A self-serving bias is the frequent behavior of a person to take credit for happy occurrences or results but to blame other reasons for bad events. This is in contrast to the opposite bias, which is the habit of blaming outside forces for negative events.
In conclusion, Self-serving bias is a kind of perceptual bias that refers to the propensity to exaggerate the influence of internal variables on the success of another individual or group.
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