Question

How did gold & silver mining in North & South America impact Spain's economy?

Answer 1

(1) Spain acquired a great deal of wealth because the gold and silver were sent to Spain.
(2) The Spanish economy became more dependent on the economies of other European countries.
(3) Spain went bankrupt because of the high costs of labor in North and South America
(4) Because they had vast resources of gold and silver, Native American were able to purchase many goods from Spain.